Escrow & Title
A buyer who purchases property 'subject to' an existing mortgage:
AAssumes full personal liability for the mortgage
BTakes title with the mortgage remaining on the property but does not personally assume liability✓ Correct
CIs required to refinance within 90 days
DGets the mortgage discharged automatically
Explanation
When purchasing 'subject to' an existing mortgage, the buyer takes title without assuming personal liability for the mortgage. If payments stop, the original borrower remains liable to the lender.
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