Finance
In Wyoming, a 'subject to' sale for existing mortgage purposes differs from an assumption in that the buyer:
AMust qualify with the lender for a subject-to sale
BTakes title subject to the mortgage without personal liability for the debt✓ Correct
CAlways pays the existing mortgage directly to the original lender
DMust pay off the existing mortgage before taking title
Explanation
In a 'subject to' sale, the buyer takes title with the existing mortgage remaining on the property, but the buyer does not personally assume the debt obligation. The original borrower (seller) remains personally liable on the note.
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