Saint Petersburg, FL asked in Real Estate Law for Florida

Q: What happens if a mortgage owner tries to sell a home, but has not paid off the mortgage to the original owner?

I am the original owner and would like to know if I need to take any actions.

Related Topics:
1 Lawyer Answer
Terrence H Thorgaard
Terrence H Thorgaard
  • Freeeport, FL
  • Licensed in Florida

A: The potential buyer would acquire the property subject to your mortgage; thus it would not normally be a smart move on that person's part because their interest could be "under water" (meaning that they would owe on their second mortgage but without any equity). And, of your mortgage has a "due on sale" clause, you could, but would not have to, foreclose if the property is sold without your permission. But no, you wouldn't have to take any action, assuming that there is no default in the loan payments.

1 user found this answer helpful

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.