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If you have the title do you still owe a loan on the recapture receivable account?

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cybercynphoni Joined: 08 May 2011 Posts: 1 1.30 Dollars($)	Posted: Sun May 08, 2011 9:22 am    Post subject: If you have the title do you still owe a loan on the recaptu Like 0 Dislike 0 My grandmother passed away in 6/2008 and she had received the title for the house she had paid on for many years....We have since received a letter stating that she owes a recapture receivable account and the account may continue to be deferred until transfer title or vacating the property. Can you please explain what this recapture receivable account is or what it means?! This would be ever so helpful. Thank you.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun May 08, 2011 8:22 pm    Post subject: Like 0 Dislike 0 Welcome cybercynphoni, Recapture receivable contract is a stipulation that allows the seller of an asset to retain/retrieve partial asset ownership. For example, the seller of real estate may be able to gain some of the income generated by the property. The recapture agreement is usually valid within a given time period. _________________ Procrastination is the enemy of your financial success

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