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Does home buyer need to satisfy judgements against them to aquire title to real estate?
Philadelphia, PA
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Posted about 1 year ago in Real Estate
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Is there a law in Pennsylvania that makes it necessary for buyers of residential real estate to satisfy liens and judgements against them (ie; child support, IRS judgements) in order for title of real property to transfer into buyer's name if buyer is not purchasing title insurance?
Answers (1)Margery Ellen Golant
This attorney is licensed in Pennsylvania and 1 other state.
Posted about 1 year ago.
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This depends. If there is mortgage financing involved, normally the lender will require that it be in first position or it will not make the loan. If there are exisitng liens and judgments, the lender would not be in first position.
If there is no financing involved, and no tite insurance, you have the right to acuqire the property without clearing those items, so long as you understand that they will likely attach to the property you are acquiring.
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