Legal Standpoint
From a legal standpoint, most sale contracts stipulate that the seller may pay encumbrances out of the proceeds of the sale. The fact that the original seller still owns the property is definitely an encumbrance. Also, contracts may be assignable, thus allowing the middleman to have the right to assign his purchase contract to the purchaser for a fee.
Read more about this topic: Double Closing
Famous quotes containing the words legal and/or standpoint:
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“I took the standpoint that the profession of technologist, a man who masters matter, is a masculine profession, if not the only masculine profession there is.”
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