Home & Garden

September 26, 2008

Clarifying a ‘contract for deed'

Q. My parents bought a home through a “contract for deed.” My sister's name was put on the deed, but the seller is carrying the loan through a mortgage company. My parents have been paying the loan to the mortgage company with their checks for the last 10 years. My dad died, my mother wants to sell the house. Who will get any profit from the sale, my sister or the person who is carrying the loan through the mortgage company?

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