Main Menu
Select Language
Tell A Friend!
Please submit the information below to recommend your friend.
Help Support
You will get support if you are facing difficulty to understand the question, through our discussion forum, call us on our hot line at (416) 477-2788 (9am to 10pm 7 days a week) or write an email with detail of your study problems at support@studyreal.com
Home 
FAQ Real Estate Dictionary S Subject To Mortgage
FAQ Real Estate Dictionary S Subject To Mortgage
Subject To Mortgage
- DATE ADDED:
- Tuesday, 07 April 2009
- FAVOURED:
-
0
ANSWER
A grantee taking title to real property "subject to mortgage" is not personally liable to the mortgagee for payment of the mortgage note. In the event the grantor-mortgagor defaults in paying the note, the grantee could, however, lose property, and thus his equity, in a foreclosure sale.