exactly what is a "subject to" - Posted by CJ INVESTING

Posted by E.Eka on December 02, 2003 at 17:07:57:

Bravo Randy,
That’s the best explanation i’ve seen to date!

exactly what is a “subject to” - Posted by CJ INVESTING

Posted by CJ INVESTING on December 02, 2003 at 11:08:05:

Hey everybody

i’m pretty new to investing and was wondering if anyone could tell me the meaning of subject to.

Re: exactly what is a “subject to” - Posted by Randy (SD)

Posted by Randy (SD) on December 02, 2003 at 11:25:26:

Subject to existing financing. In most real estate transactions in the deed to the property is encumbered by a mortgage. You have a deed to the property giving you the right of ownership and you have a mortgage on that deed where you have agreed to repay the lender for the money borrowed to purchase the property. In the case of a subject to the deed and the mortgage are severed. The owner transfers the deed to a new owner while retaining the mortgage in their name, with an agreement by the new owner to make the payments on behalf of the previous owner.