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Your parents must convey the land to you by their deed. The bank must release that portion so you will own it free and clear of the mortgage. Your parents should request that the bank issue a partial release for the 3 acre parcel they intend to convey to you. That release should be recorded in the land records prior to your deed.

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Q: I am buying 3 acres of my parent's land and they still owe on their mortgage Does their bank give me a warranty deed?
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