Clarksville, TN asked in Real Estate Law for Tennessee

Q: what does buyer's obligation under this agreement shall survive the closing of the sale from seller to buyer and

Constitute a lien on the real estate until released by the seller means?

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1 Lawyer Answer
Anthony M. Avery
Anthony M. Avery
  • Knoxville, TN
  • Licensed in Tennessee

A: I would have to examine the instruments to really know. But it sounds like it is just sale contract terms which incorporate the note and deed of trust terms (obligations), which of course exist after the closing (final execution) of the sale contract. Apparently this is an owner financed land transaction, but I hope you are not a "buyer" under a Contract For Deed/ Lease With Option To Purchase. If you are buying demand a deed, note and deed of trust, period.

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