Can I sell my home?

The deed and title is transfered over to me ...BUT the loan is still in the banks name...I did a owner fianance and he transfered everything over to me except the loan....which is still in his name...can I sell this home and just pay him in cash for the house...or what can I do about it????

Because you have deed/title the property belongs to you legally. However, because the property is security for the mortgage loan, if it were to go into default you could lose the property. My suggestion would be to refinance the loan into your name. Then if you want to sell you can.

Maybe,u could use stocks and bond or pocket money out of your bank,or take a loan

Yes. The closing agent/escrow will take care of that at settlement & pay off the underlying loan.

He problibly has a lean on the property
If u sell it it must B paid at closing, Title Will pick it up
the answer is YES
Find out how much the lean is $$$ so U Know how much U have to sell the house for and how much U will end up with
Good Luck Fred

I don't think you can sell without permission of the mortgage company, so first call the lender and then take an action depend of what they will tell you.

You can't sell because the loan itself is not in your name, you dont quite have full ownership.

Title is in your name, so you can sell. An owner-financed mortgage is no different from a regular bank mortgage in that regard. Read your mortgage papers, though, just to make sure you don't have an early prepayment penalty (even regular loans sometimes do, so this is not just an owner-financed issue). You do not need to contact the original mortgage company, but the title company WILL have to know who it is so they can pay them off and get a satisfaction of mortgage recorded. Title companies usually are the ones who request the payoffs from all existing liens on the property. The original seller will get whatever is on your mortgage to him minus what the original mortgage was. You will get anything above the owner-financed mortgage.