A Prepaid Option That Can't Be Exercised?

Can we lose our right to exercise an option if the Owners who gave us this option default on their new bank loan?


Thanks! Alan
[ Edited by fearnsa on Date 03/25/2004 ]

Comments(2)

  • rajwarrior29th March, 2004

    In a word, yes.

    a lien will come before your option to purchase. That's why you need to be "in the loop" on when and where mortgage payments are to be made. If there is a problem, you will know about it before it's too late.

    Roger

  • fearnsa29th March, 2004

    Thank you, Rajwarrior! In the loop I'll be. Alan

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