[WSBAPT] Contract to Buy a Home-Mortgage/Tax Lien

[Jayne Gilbert]

I have clients who have 2 homes on one parcel. Their
son and wife live in the little house. They want to sell the
property to the son and switch houses.

There is a tax lien on the property and a mortgage.

The son is selling his out of state home and plans to
make a significant down payment and then they will be
making monthly payments to his parents.

Will recording the contract make the mortgage and tax
lien due on closing?

I have mentioned reserving a life estate in the property
for the parents-they were not warm on the subject I also
discussed a TODD and a Will. They do intend to give all
their interest in the property upon the death of the survivor.

Thanks

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Jayne Marsh Gilbert
Gilbert and Gilbert Lawyers, PS
(360) 336-9515
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