Legal Question in Real Estate Law in Georgia

Obligations of Deed with a mortgage

What are the obligations of a person once they have signed over the deed to a property with an outstanding mortgage?


Asked on 11/27/01, 9:37 am

1 Answer from Attorneys
Bunji Fromartz Fromartz Law Offices

Obligations of Grantor re: outstanding mortgage

The person signing the deed will still be personally liable if the mortgage is not paid. However, in general, it is rare that a person out of ownership ends up with a judgment against them as the property sale usually raises enough money to cover the mortgage.

One last item, if the mortgage is not paid the person signing (grantor) will find that their credit rating is effected.

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Answered on 11/27/01, 12:46 pm


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