| Document: CYA Letter for "subject to" using Land Trust Seller Disclosure and Acknowledgment I,_______________________, Seller, have been made aware that my loans on the property located at ______________________________, contain a due on sale clause which means the lender has the right to call the entire loans due upon transfer of title. I understand the loans will stay in my name until the same are paid off or assumed by a future buyer. I’m further aware that _______________ Land Trust, Buyer, has no intentions of assuming said loans and that no promises have been made to me that the loans will be assumed or paid off. I agree to hold harmless buyer or assigns, or any future buyer in the event the loans are called due or go into default for any reason. I agree and understand that the property mentioned above will no longer be legally mine, and I agree and understand that I may not legally depreciate said property on our federal or state income tax returns, nor may I claim any income tax deduction for the interest payments, taxes or other expenses thereon. I had the foregoing read to me and understand the purchaser will not assume any present mortgages, deed of trust, or other encumbrances against the property described above.
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