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