[WSBARP] Due on sale, and wrap-around sale to kids

[Craig Blackmon]

'Mates, with interest rates remaining elevated (over recent history,
anyways) I have gotten a few inquiries from parents looking to convey the
home to an offspring, without paying off the existing mortgage. By my
reading of the Garn St. Germain Act, a conveyance to an offspring cannot
trigger the due on sale provision.

Does that mean parents can sell to offspring with a seller-financed "wrap
around" mortgage, subject only to any "no further encumbrances" term in the
original DOT? If not, what am I missing?

Any insight is deeply appreciated!

Craig
Craig Blackmon, Attorney at Law
<https://www.mywsba.org/PersonifyEbusiness/LegalDirectory/LegalProfile.aspx?Usr_ID=000000029240>
92 Lenora St. #13, Seattle WA  98121
Office/Cell: (206) 369-5949
On the blog: Changes to Title and the QCD
<https://seattlepropertylawyer.com/blog/quitclaim-deed-explained>
<https://seattlepropertylawyer.com/>    <https://www.fsbolawyers.org/>
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