Legal Question in Real Estate Law in Tennessee
I rented a house with the option to buy it in Tn. Then I found out the bank loan for the house is still in the sellers dead stepfathers name. it is a VA loan, all the seller has is a quick claim deed from her late mother made to her that has been filed. Is it Legal for her to sell me the house this way. or do I need to go to the bank to find out what I need to do.
1 Answer from Attorneys
Before you take any further action to buy the house, you should contact an attorney in your area who handles real estate matters and ask him/her to do a title search on the property for you. This search will uncover any and all liens (loans) against the property and will also confirm whether or not the person you are renting from has the legal ability to sell the house to you. If there is an outstanding loan on the property that is secured by a lien or deed of trust (otherwise called a mortgage), then that lender probably will require the loan to be paid off before you can receive clear title to the property.
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