---

When a quick deed is transferred into a family members name what is the worst case scenario could happen?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Guest	Posted: Sun Jul 03, 2011 6:27 pm    Post subject: When a quick deed is transferred into a family members name Like 0 Dislike 0 Transferring a home or property into a family members name.
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Sun Jul 03, 2011 8:18 pm    Post subject: Like 0 Dislike 0 Hi Guest, Once you transfer the property to your family member, that person will become the owner of the property. However, you should ask that person to refinance the mortgage, if any. If the person does not do so, you'll still remain liable for the mortgage payments. Thanks
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Mon Jul 04, 2011 10:58 am    Post subject: Like 0 Dislike 0 From whose perspective are we to describe a worst case scenario? I'd say that the overall worst thing that can happen is that a lender doesn't get paid, and forecloses on the property and the entire family is without the property as a result. What is the rationale behind the question? _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0