Legal Question in Real Estate Law in New York

i would like to purchase a house from a lady who still owes 80k on mortgage. we both agree to a land contract for me to pay off what is left on that morgtage. should i run into any problems from her mortgage company or lawyers that are writing up the contract? Or would it be ok to have some pages typed signed and notarized by clerk? i just want to make sure im secured if some thing were to happen to her or me. i dont want a bank trying to take a house that ive paid on for 10 years


Asked on 8/07/10, 12:04 am

1 Answer from Attorneys
Carol Ryder Law Office of Carol Ryder PC

Get a real estate lawyer. Maybe a short sale is appropriate. The bank will take that money at the closing. If you are on Long Island, call me at (631) 848-1204

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Answered on 8/25/10, 3:58 am


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