Legal Question in Real Estate Law in Texas
My sister would like to sell one acre of land to me, but the land was used to finance the house she lives in.
Can I purchase the one acre, because I'm not sure how the land is "locked up" in regards to the financing and how it will be properly released to me?
Asked on 11/02/10, 12:06 am
1 Answer from Attorneys
You can buy the land, but it would be subject to the lien. This means that if your sister doesn't pay her bills, the bank can foreclose the acre as collateral.
Answered on 11/07/10, 6:06 am
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