Property Ownership
A Wisconsin property owner who has a mortgage on their property wants to sell. At closing, the mortgage will typically be:
AAssumed by the buyer automatically
BPaid off from the sale proceeds and the lien released✓ Correct
CTransferred to another property the seller owns
DForgiven by the lender if the sale price covers costs
Explanation
In a standard sale, the seller's mortgage is paid off from the sale proceeds at closing, and the lender records a satisfaction/release of mortgage to clear the lien from the title.
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