Legal Question in Wills and Trusts in Georgia
Real Estate/Mortgage Upon Death
My mother recently passed away. She has a will in which everything was left to me and my sister. At the time her will was made, she also deeded her house over to me and my sister. There is still a loan existing on the home. Can I continue to pay the mortgage under my mom's name or will I need to get a loan in my name? My worry is that because the house is almost paid for, the loan company will see this as an opportunity to take the house. Can they do that? Will they give me the opportunity to continue paying for the home or get a new loan? Should I contact them or not?
1 Answer from Attorneys
Re: Real Estate/Mortgage Upon Death
Why not see if you can get a loan to pay off the existing debt, and resolve the problem before it starts. The transfer to you likely invoked a due-on-sale clause in her loan documents, but we do not have those documents to review.
Related Questions & Answers
-
Will remarriage or divorce void a Will in the State of Georgia? Asked 2/23/09, 10:50 am in United States Georgia Probate, Trusts, Wills & Estates
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
