taking subject to the loan, - Posted by vladimir_chicago

import · April 21, 2018, 4:36pm

Posted by Nate on March 21, 2001 at 13:36:46:

If you took it subject-to, you would be making the payments. Presumably this would continue even if the seller were dead, incapacitated, in prison, or in Timbuktu. The bank should have no more reason to complain than they would otherwise.

import · April 22, 2018, 4:23am

Posted by vladimir_chicago on March 21, 2001 at 11:31:54:

Hi all,

recently a seller asked me what would happen if I took their loan over subject to, and the seller would pass away (or die). What would happen? If there is a death, don’t banks normally want all their money? Would I have to refi?

Thanks in advance.
Vladimir