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Yes. The buyer's attorney will contact the bank and arrange to pay off the mortgage from the proceeds of the sale. Those proceeds will not be paid directly over to you, only the amount that exceeds the amount due on the mortgage. If the proceeds of the sale aren't enough to pay off the mortgage you must come up with the difference or the sale will not go through.
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What happens when inherited property is sold for taxes?
If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.
What happens if you are being sued for town taxes?
You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.
Can a trustee get a loan on the property held in trust to pay off heirs?
Trustee is not the owner of the property and hence he will have no right to sell the property held under trust.
Do the executers of will sell property and distribute monies evenly as part of their duties?
They sell property, pay off debts and distribute monies as directed by the will or the intestacy laws in effect. "Evenly" may not be the way it was directed.
If i don't pay credit card debt can they take my car that is paid off?
If Your creditor get a judgment against you they can sell what property you have to pay the debt. So the answer is Yes.
If you are selling your house do you have to pay off your second mortgage or can you keep making payments?
When you sell your home all liens against the property have to be paid so you will have to pay off the second mortgage at the closing.
What happen to mothers property when she death?
It depends on what she has stated in her will. If there is no will, then the government will look into the case and decide who inherits what. If the mother had debts to pay, then the bank can legally take possession of the property to sell in order to pay off the debts.
In Ohio if you receive property in a will do you half to except it if so are you responsible for the debt?
You don't have to accept it. If there is a lien against the property, you would be responsible for it. Maybe you could sell the property, pay it off and keep the rest.
If one person is on the deed and two people signed the note can the person on the deed sell the property without permission satisfy the mortgage and collect the proceeds?
Of course. A person who signs a note and is not on the deed is simply a volunteer. They have volunteered to pay a mortgage on property they don't own if the primary borrower defaults. The owner of the property can sell the property and pay off the mortgage from the proceeds at any time.
Can a executor sell the home in the will if it is split with another family member?
The executor of the will has the ability to sell property of the estate. They may have to in order to pay off the debts of the deceased. The value of the property after the debts are cleared would be split between the family members.
How do you get your half of profits on real estate sale if there is a child support lien against the property because husband did not pay child support?
I do believe a lawyer bringing this fact to the judge can make him sell the property to pay off the child support.
Can second mortgage foreclose if the first mortgage is being paid?
Yes. The junior mortgagee can foreclose and take possession of your property subject to the first mortgage. If there is enough value in the property the junior mortgagee can sell the property, pay off the first mortgage and put any remaining proceeds against the amount owed on the second mortgage.Yes. The junior mortgagee can foreclose and take possession of your property subject to the first mortgage. If there is enough value in the property the junior mortgagee can sell the property, pay off the first mortgage and put any remaining proceeds against the amount owed on the second mortgage.Yes. The junior mortgagee can foreclose and take possession of your property subject to the first mortgage. If there is enough value in the property the junior mortgagee can sell the property, pay off the first mortgage and put any remaining proceeds against the amount owed on the second mortgage.Yes. The junior mortgagee can foreclose and take possession of your property subject to the first mortgage. If there is enough value in the property the junior mortgagee can sell the property, pay off the first mortgage and put any remaining proceeds against the amount owed on the second mortgage.
