"Subject to" - Posted by Alex

Posted by Redline on April 08, 2001 at 12:34:03:

Buying a property “subject-to” means buying it subject to the existing financing. For example, you purchase a house from Joe Blow and he’s got a first mortgage for $50,000. When you purchase the house, you take over pmts of this mortgage (you do NOT get your own mortgage or assume this mortgage).

The net result is you now OWN the property, and now make the mortgage pmts, but Joe remains liable on the mortgage.

You’ve now bought the property without getting a loan. You’ve bought subject-to.


“Subject to” - Posted by Alex

Posted by Alex on April 08, 2001 at 09:37:20:

Just have a quick question to anyone that might beable to explain to me the definition of “Subject to” or its meaning.
Thank you

Re: “Subject to” - Posted by Jim

Posted by Jim on April 08, 2001 at 12:35:40:


" When transferring title to a property encumbered by a mortgage lien
without paying off the debt or assuming the note, the buyer is taking
title “subject to.”