The Pennsylvania Superior Court recently held in Levitt v. Patrick that a purchaser of property takes title subject to an existing, unsatisfied mortgage lien, notwithstanding a decree of specific performance requiring the mortgagor to convey the title free and clear of liens. As with many disputes regarding title to real property, the factual and procedural history is somewhat convoluted.
Nelson and Marsha Goldberg owned real property subject to a first mortgage in favor of Southwest National Bank of Pennsylvania and a second mortgage in favor of Donald Levitt. On Nov. 16, 1999, Craig Patrick made a written offer to purchase the property for $908,000, which the Goldbergs accepted, which was noted in the opinion from the trial court. The agreement of sale provided that the Goldbergs would convey the property free and clear of all liens, encumbrances and easements and that the title would be good and marketable. Settlement was to take place Feb. 28, 2000.
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