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Selling a home contract for deed

Asked Jul 1, 2008, 02:42 PM — 2 Answers
Hi, I want to know if anybody knows if you can sell your home contract for deed to someone, when you still owe money on it to a mortgage company or if it needs to be paid off. This home in question is in Minnesota if that make a difference on state laws.

Thanks for any help

Tuckercountry

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tickle Posts: 19,306, Reputation: 12336
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#2

Jul 1, 2008, 02:55 PM
What you are suggesting is fraud and I think it is the same in any state. No, mortgage has to be either transferred or paid off to sell your house.
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jim70 Posts: 1, Reputation: 10
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Sep 2, 2010, 05:49 PM
You can sell on a contract for deed with the approval of your loan company. However you still are responsible for the loan. If the buyer does not keep up with the payments then you must pay them.
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