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All Forum Posts by: Sean Peabody

Sean Peabody has started 12 posts and replied 21 times.

Post: Who gets the profit on sale of property

Sean PeabodyPosted
  • New to Real Estate
  • Capital District
  • Posts 21
  • Votes 0

Hello, I have a property in NYS. I did a subject-to deal and I have the deed in my name but the mortgage is in the name of the prior owner. I'm planning on selling the property soon. My question is when the property sells does the profit split between me and the prior owner since they are on the mortgage or just me since I'm the one on the deed? Thank you!