Legal Question in Real Estate Law in Wyoming
short sale
Seller's property is in foreclosure. Seller is trying to get boyfriend to buy the house in a short sale situation (on both the first and second mortgage) and allow her to continue to live there and rent from him. Is this legal?
1 Answer from Attorneys
Re: short sale
You have not provided enough factual information to answer the question, but the short answer is Perhaps. The Seller has the right to redeem the property at any time up until the redemption period expires after a foreclosure sale.
If the Boyfriend can purchase the property, and satisfy the lienholders, then the Boyfriend owns the house. He can rent the house to anyone he wants, including his girlfriend.
I do not know if that is what you meant, and cannot advise you fully on the situation until I know all of the facts.
As a result, be advised that this advice is general in nature, and no attorney-client relationship is created, particularly since I do not know who you are.