Legal Question in Real Estate Law in Georgia

''Subject To'' real estate contract

Is there a specific form to use for a real estate sale ''subject to'' an existing mortgage? The forms I've seen thus far don't seem to lend themselves to this transaction. Thanks JB

Asked on 1/13/08, 10:11 am

2 Answers from Attorneys

Scott Riddle Law Office of Scott B. Riddle, LLC
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Re: ''Subject To'' real estate contract

While there are many forms and language, there is no one form that covers everything and one should know what they are doing before entering into any real property contract. If not, they should get a real estate professional to handle it correctly or face problems in the future. Your first step is to review all loan paperwork to see if the lender allows such a transfer. In the overwhelming majority of cases, they do not, and a transfer triggers an immediate right to foreclose. It also does not relieve the seller of their obligation to pay the debt - thus, the person has transferred the property and still has to pay the debt. This is but one of several points of danger.

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1/13/08, 10:45 am
SHERRY RAGOLE RAGOLE & ASSOCIATES, LLC
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Re: ''Subject To'' real estate contract

There is no standard form. Most parties have an attorney draft such documents for them. Moreover, the form that an attorney will draft depends on whether you are the purchaser or the seller.

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1/13/08, 9:54 pm

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