Question about Mortgage with leasehold attached to Deed?

Hi,

I own a property and have no mortgage on it. It’s valued at about $ 200,000.

The lawyer attached a lease memo to the deed that is filed with it at the register of deeds office that says that the current tenant can occupy the place for 75 years or until death. That’s fine, because they pay me about $ 800 per month, guaranteed income.

I’m wondering if I can obtain a mortgage loan on the property or if the ‘lease memo’ is effectively a lien, since it gets confusing that there is someone allowed to live there until death.

If not a mortgage loan, what type of loan could I obtain with the ‘lease memorandum’ attached to the deed?

Thanks,
JA

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