Can you sell your home if it has a reverse mortgage on it?

Transcript: Isaac: My mom has a-- What's the type of mortgage where when she dies, I guess, the mortgage company takes the property? Attorney Tom Olsen: It's a reverse mortgage. It is a mortgage that comes due in full when a parent passes away. Isaac: I'm trying to buy the property from her. Is that something that we could do? Attorney Tom Olsen: Your dad is passed away. Your mom is still alive. Your mom is free to sell that property to anybody that she wants to. At the moment of closing, they will back out from her proceeds enough to pay this reverse mortgage in full. Simply because she has a reverse mortgage would not stop her from selling a property assuming that she sells it for more than what the balance due on the first reverse mortgage is. Isaac: Yes. Being that I would be getting a mortgage to purchase this from her, myself and her would have to have a contract? Attorney Tom Olsen: Yes. Even though you're family members, there's not going to any corners that you cut here, Isaac. It's going to start with you getting a full-blown contract for sale and purchase because your lender is going to require it. Isaac, if you call my office next week, I'll be happy to assist you with that.