When a promissary note changes ownership do the agreements made by the original owner follow through to the next note holder?

Asked almost 4 years ago - Denver, CO

I purchased a home from an investor. He traded the note to a contractor for another property. Does the agreements I had with the original investor follow through to the contractor that now holds the note?

Attorney answers (1)

  1. Teri A. Walter

    Contributor Level 19

    Answered . When a note is sold, the maker's obligations to pay don't change; the only thing that changes is who the payments go to.

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