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15:35 Aug 31, 2008 |
French to English translations [PRO] Law/Patents - Real Estate / Real estate - offer letter | |||||||
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| Selected response from: Daniel Weston United States Local time: 09:33 | ||||||
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3 | except to the seller in declaring legal release |
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except to the seller in declaring legal release Explanation: The seller may have to pay an early payoff amount on the current mortgage. -------------------------------------------------- Note added at 4 days (2008-09-05 08:17:52 GMT) Post-grading -------------------------------------------------- I haven't seen one, but I read that the l’état hypothécaire covers your concern. It's a document that proves ownership and, if there is a mortgage, facts about the mortgage itself. That's where you'd need to make sure that the buyer's down payment and loan are enough to cover the payoff of the current loan (aside from any early payoff fees, etc. that the seller should pay). It goes on to say that the mortgage balance showing should not be more than the selling price. If it is, that would be another thing to question. You'd want to make sure that the transfer of property happens properly and in the best interest of your client! |
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