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Buying House - old owner had debt, do I have to pay it?

househero · 2014-06-15 22:32:04

If I buy a repossessed house,and the old owner used his house as security (collateral) I don't have to settle the debts do I?

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15-06-2014 11:32pm

#1

househero

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If I buy a repossessed house,and the old owner used his house as security (collateral)

I don't have to settle the debts do I?

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#2 16-06-2014 1:09am
Mrs OBumble

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No.

But you do have to buy it from someone who has the legal right to sell it. Which may not be the old owner, depending on what papers s/he signed.

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#3 16-06-2014 1:09am
efb

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Your sol will sort that. Which parts of the payments go to whom

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