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.

Comments(6)

  • jfmlv195027th July, 2006

    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)

  • donotusecash27th July, 2006

    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?

  • JohnLocke27th July, 2006

    donotusecash,

    It is legal in TN and the other 49 states also, your understanding is wrong.

    John $Cash$ Locke
    [addsig]

  • donotusecash27th July, 2006

    Thank you for the reply- thats all that I needed to know.

  • JamesStreet27th July, 2006

    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...

  • JamesStreet28th July, 2006

    Thats great happy investing

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