Contracts
A Wyoming buyer who wants to purchase a property using a 'subject to' strategy acquires the property by:
AAssuming the seller's existing mortgage with formal lender approval
BTaking title subject to the existing mortgage without formally assuming it✓ Correct
CPaying cash and then obtaining new financing
DEntering a land contract with the seller
Explanation
In a 'subject to' purchase, the buyer takes title to the property while the seller's existing mortgage remains in place. The buyer takes over payments but does NOT formally assume the loan—the original borrower remains legally liable.
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