Situation where a buyer takes title to mortgaged real property but is not personally liable for the payment of the amount due. The buyer must make payments to keep the property; if he or she defaults, only the equity in the property is lost.
Related information about subject to mortgage:
- Subject to Mortgage: Definition from Answers.com
Subject to Mortgage Assignment or transfer of real estate where the purchaser agrees to take over monthly payments of principal and interest, but does.
- Subject To Mortgage
A grantee taking title to a real property “subject to†a mortgage is not personally liable to the mortgagee for payment of the mortgage note. In the event that ...
- "Subject To" Mortgage. - Legal Dictionary - The Free Dictionary
A legal document by which the owner (i.e., the buyer) transfers to the lender an interest in real estate to secure the repayment of a debt, evidenced by a ...
- Mortgage Assumption - Are You Assuming a Mortgage or Buying ...
Is It Mortgage Assumption or Subject to Mortgage? By James Kimmons, About. com Guide. See More About: real estate mortgages · real estate financing · loan ...
- subject to mortgage Definition | Business Dictionaries from ...
assignment or transfer of real estate where the purchaser agrees to take over monthly payments of principal and interest, but does not assume personal liability ...
- Subject-To Mortgage Assignment | Phill Grove AMPS
Overall, the subject-to mortgage assignment strategy matches a high supply of distressed sellers with a high demand for homes by unqualified buyers, which is a ...
- The TurnKey Investor's "Subject To" Mortgage Handbook: The Art ...
This exciting new book is in Oversized Manual book format. It contains information not found in any business paperback book (to date) except in real estate ...
- Beauty of 'Subject To' Mortgages - article by Matthew Chan
(Book excerpt from "The TurnKey Investor's 'Subject To' Mortgage Handbook"). The idea of buying investment property without having to get a new loan is a very ...