Bond for Title

what is the name of your state? south carolina
seven years ago i purchased property fsbo with owner financing. the sellers have a mortgage with a bank. because their mortgage contract says they cannot sell their house in this manner, there was no transfer of title so that their bank wouldn't find out what they have done. (1) since they breeched their contract to enter into our bond for title contract, is our bond for title contract legal, or can i simply stop paying the payments and walk away? (2) i now want to sell the property. who will sign a sales contract as the seller, me or them?

[HomeGuru]

[quote]Originally posted by rwaller
[b]what is the name of your state? south carolina
seven years ago i purchased property fsbo with owner financing. the sellers have a mortgage with a bank. because their mortgage contract says they cannot sell their house in this manner, there was no transfer of title so that their bank wouldn't find out what they have done. (1) since they breeched their contract to enter into our bond for title contract, is our bond for title contract legal, or can i simply stop paying the payments and walk away?

**A: I don't know what you are talking about here.
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(2) i now want to sell the property. who will sign a sales contract as the seller, me or them?

**A: you will be the Seller and a Buyer must get his own mortgage financing.
Better see a real estate attorney.