Q: If I purchase a plot of land with debt on it, can I be responsible for this debt?
I’m buying a small plot of land for a very cheap price, I’m looking to see if there is some sort of catch that can cause me financial burden
A: If the real property is just deeded to you, then you take the tract subject to whatever encumbrances are on it. But as long as you do not assume or guarantee any debts on the plot, then those encumbrances are only against the land and are not your personal obligation. However any liens, taxes, etc. can be executed against the land, and you lose it without any monetary loss on your part.
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