Sub 2 In Tennessee
I am looking to do a sub 2 in TN, but the owner is telling me it is against the law to deed me the property with a mortgage in TN. Is this true? Please Help! This deal is time sensitive.
I am looking to do a sub 2 in TN, but the owner is telling me it is against the law to deed me the property with a mortgage in TN. Is this true? Please Help! This deal is time sensitive.
This link should help
http://www.legalwiz.com/articles/dueonsale.htm
Plus check out lines 203 and 503 on a HUD-1 form.
John (LV)
I appreciate the reply, but it is my understanding that there are in fact some states that have put new laws into legislation that are directed solely to these types of purchases.
Is TN one of them?
donotusecash,
It is legal in TN and the other 49 states also, your understanding is wrong.
John $Cash$ Locke
[addsig]
Thank you for the reply- thats all that I needed to know.
DoNotUse,
Be careful when dealing with someone who is already against sub-to. If they are unsure they can make the deal a real headache. If you did this right the seller should never had an objection or questions sub-to... my 2-cents...
Thats great happy investing