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subject to |
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Subject Describing a bid or offer for a security that is still negotiable. That is, a subject bid/offer is not firm and requires confirmation before a transaction involving it can be executed. subject to Refers to the practice of purchasing real property on which there is an existing mortgage and, rather than paying off or assuming the mortgage, simply allowing it to remain on the property in the original owner's name.Purchasers buying property subject to a mortgage should make sure the loan does not have a due-on-sale clause and that it is not enforceable in the particular circumstances, and they should take whatever steps are necessary to ensure that monthly mortgage payments are made on time. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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