Contracts
In Minnesota, a 'subject to' transaction means the buyer:
AMust pass a credit check before closing
BTakes title with the existing mortgage remaining in place without assuming personal liability for the debt✓ Correct
CIs subject to the seller's right of first refusal
DPurchases the property contingent on selling their current home
Explanation
In a 'subject to' purchase, the buyer takes title to the property with the existing mortgage remaining on the property but does not assume personal liability for the mortgage. The seller remains personally liable for the debt. If the buyer stops paying, the lender can foreclose, and the seller is still obligated on the loan.
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