Legal Question in Real Estate Law in New York

property sale

I own a second home that i want to sell. I have several leins and judgements against me. I want to sell the home for what the bank has into it to pay the bank off. Question: will the buyer own the home free and clear or will my leins and judgements follow the buyer or the deed to the home?


Asked on 6/16/02, 12:56 pm

2 Answers from Attorneys
Savyon Grant Law Office of Savy Grant

Re: property sale

yOU SHOULD LIST THE HOME WITH A REAL ESTATE AGENT AND TRY TO GET THE MOST VALUE OUT OF IT. YOU MAY EVEN END UP MAKING MONEY. BEFORE TITLE TRANSFERS ALL LIENS WILL BE PAID OFF BY THE PROCEEDS AND THERE WILL BE CLEAR TITLE. IF YOU HAVE ANY FURTHER QUESTION, I CAN BE REACHED AT 201-646-9600. SAVY GRANT

Read more
Answered on 6/17/02, 2:33 pm
Scott L. Braziller Scott L. Braziller, Esq.

Re: property sale

The liens and judgments will probably show up on a title search which will have to be dealt with before you can close title. If that is done, the buyer will take the house free and clear. Otherwise, the deal may fall through. You may want to consult an attorney and give them more detail than you posted here.

Read more
Answered on 6/16/02, 2:12 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in New York