Legal Question in Real Estate Law in Indiana

selling a home on contract

Can I sell my home on contract when i still have a mortgage on it as long as I stay responsible for the loan and what paper work would i need?

Asked on 7/18/08, 8:50 am

1 Answer from Attorneys

Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: selling a home on contract

Most mortgages have a due on sale clause. In other words, if there is a sale of your home the entire balance of your mortgage becomes due immediately. If you mortgage company learns that you have a contract sale, the due on sale clause may be triggered.

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Answered on 7/18/08, 1:41 pm

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