Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago,
Unique Subject-To Duplex scenario - legal ramifications?
I've scoured the forums and haven't found one that addresses my unique situation below. Would love some input from a legal perspective..
Scenario: I own a full duplex. I live in unit A and rent out unit B. Each unit has its own tax ID. My FHA Mortgage covers the full duplex (unit A and B), including taxes and insurance collected in Escrow monthly.
I am considering selling Unit B Subject To to the current tenant, having them take over the unit B deed along with the whole mortgage (which covers unit A and B + all taxes/insurance).
Question: Beyond the typical Subject To sale concerns, are there any unique restrictions or ramifications I should be aware of if I move forward in this situation?
Thanks BP Community!