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Updated about 6 years ago,

User Stats

1,259
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225
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Mary Jay
  • Glendale, AZ
225
Votes |
1,259
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Subject 2 deals questions

Mary Jay
  • Glendale, AZ
Posted

Hi guys, just wanted to make sure I am understanding correctly...

The seller still has the mortgage on the property....

1) If I am doing subject 2 then In lien theory state (New York, Ohio, etc) , the seller gives me (the buyer) the title, and I keep paying their mortgage

2) In a deed theory state (Michigan,Nevada, etc) the title does not stay nor with the seller, nor with me (buyer) until all sellers mortgage has been paid to the bank? Then the title will be given to the buyer (me)? 

Thank you