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Asked in IL May 18, 2022 ,  0 answers Visitors: 1
I am interested in buying a property. The owner passed away and the daughter became administrator of the estate. There was a loan on the property that the bank foreclosed on but did not take the property due to its deteriorating condition. If I purchase the property from the administrator am I responsible to repay the loan or does that stay debt stay with the administrator
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6 Answers

Anonymous
Reply

Posted on / Oct. 02, 2018 09:33:00

In case it is not clear from the previous two answers, do NOT purchase this property without the assistance of a real estate attorney in your area. Even if the mortgage is released, which is not clear from your question, figure if this person was not paying the mortgage payment, there may be other bills and taxes which were not paid. All of these could be liens against the real estate. A real estate attorney in your area will be able to determine the status of title and the best way for you to proceed.

Anonymous
Reply

Posted on / Oct. 02, 2018 09:33:00

In case it is not clear from the previous two answers, do NOT purchase this property without the assistance of a real estate attorney in your area. Even if the mortgage is released, which is not clear from your question, figure if this person was not paying the mortgage payment, there may be other bills and taxes which were not paid. All of these could be liens against the real estate. A real estate attorney in your area will be able to determine the status of title and the best way for you to proceed.

Anonymous
Reply

Posted on / Oct. 02, 2018 09:33:00

In case it is not clear from the previous two answers, do NOT purchase this property without the assistance of a real estate attorney in your area. Even if the mortgage is released, which is not clear from your question, figure if this person was not paying the mortgage payment, there may be other bills and taxes which were not paid. All of these could be liens against the real estate. A real estate attorney in your area will be able to determine the status of title and the best way for you to proceed.

Anonymous
Reply

Posted on / Oct. 02, 2018 09:33:00

In case it is not clear from the previous two answers, do NOT purchase this property without the assistance of a real estate attorney in your area. Even if the mortgage is released, which is not clear from your question, figure if this person was not paying the mortgage payment, there may be other bills and taxes which were not paid. All of these could be liens against the real estate. A real estate attorney in your area will be able to determine the status of title and the best way for you to proceed.

Anonymous
Reply

Posted on / Oct. 02, 2018 09:33:00

In case it is not clear from the previous two answers, do NOT purchase this property without the assistance of a real estate attorney in your area. Even if the mortgage is released, which is not clear from your question, figure if this person was not paying the mortgage payment, there may be other bills and taxes which were not paid. All of these could be liens against the real estate. A real estate attorney in your area will be able to determine the status of title and the best way for you to proceed.

Anonymous
Reply

Posted on / Oct. 02, 2018 09:33:00

In case it is not clear from the previous two answers, do NOT purchase this property without the assistance of a real estate attorney in your area. Even if the mortgage is released, which is not clear from your question, figure if this person was not paying the mortgage payment, there may be other bills and taxes which were not paid. All of these could be liens against the real estate. A real estate attorney in your area will be able to determine the status of title and the best way for you to proceed.

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