Legal Question in Wills and Trusts in New York

Satisfying a mortgage

I bought my parent's home and my Dad holds the mortgage. I have 10 years left on the mortgage but my Dad does not want me to continue to pay his estate (my brothers) if he dies before the mortgage is paid off. Would a notarized note stating that, upon his death, the mortgage is considered paid in full be acceptable?


Asked on 7/20/02, 7:47 pm

2 Answers from Attorneys
Sarah Klug Law Office of Sarah Scova Klug PLLC

Re: Satisfying a mortgage

I agree with Mr. Nadel's advise. I would suggest that your Dad add a codicil to his will either giving you the mortgage or forgiving you the mortgage debt.

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Answered on 7/22/02, 11:12 am
Norman Nadel Norman Nadel, Esq.

Re: Satisfying a mortgage

There are many ways to accomplish this goal.

A document signed by your father which states that the note will be deemed fully paid on his death will do the job. His will can give you the mortgage. His will can forgive the debt and lien.

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Answered on 7/21/02, 8:49 pm


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