Escrow & Title
A Nebraska property is sold subject to an existing first mortgage. This means the buyer:
AAssumes personal liability for the mortgage
BTakes title with the mortgage remaining but without personal liability✓ Correct
CPays off the mortgage at closing
DNegotiates a new interest rate with the lender
Explanation
Taking title 'subject to' an existing mortgage means the buyer takes ownership with the mortgage in place but does NOT assume personal liability for it. If there's a default, the original borrower remains personally liable.
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