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Property Transfer

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jamd Joined: 19 Dec 2007 Posts: 1 1.65 Dollars($)	Posted: Wed Dec 19, 2007 8:01 am    Post subject: Property Transfer Like 0 Dislike 0 What are the steps to processing an assumption and transfer of property and mortgage to daughter once mother has passed. If the daughter's assumption is approved by the lender and the transfer agreement is signed, is there a closing or anything like that invloved in Texas. Does the attorney just process paperwork and that's it?
jheard Moderator Joined: 12 Dec 2007 Posts: 742 Location: Houston, TX 117.92 Dollars($)	Posted: Wed Dec 19, 2007 12:34 pm    Post subject: Like 0 Dislike 0 If the estate is in probate, you must transfer the property that way. Otherwise, you can file an "affidavit of heirship" and transfer the property that way. You should consult with a local probate attorney. _________________ Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Thu Dec 20, 2007 4:32 am    Post subject: Like 0 Dislike 0 Hello Jamd, I don't think there's closing cost associated with an assumption. But as far as I know you have to pay an assumption fee. You should consult your lender to get further information on this.
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Sat Dec 22, 2007 3:08 pm    Post subject: Like 0 Dislike 0 Hi Jamd, Welcome to the forum. I agree with Jenkin that there is no closing cost associated with assumption but you need to pay the assumption fees. Best of luck Happy Holidays
rap3304 Guest	Posted: Tue Jan 01, 2008 11:04 am    Post subject: Transfer of deed Like 0 Dislike 0 I inherited a property but have never transfered the ded into my name at the county courthouse. It went through probate. What do I need to do to get the name changed on the deed?
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Tue Jan 01, 2008 12:18 pm    Post subject: Like 0 Dislike 0 Hi, Welcome to the forum. If you have gone through the probate, that is good for you. Now you need to go to the court house and affidavit the deed to your name. Contact an attorney in this regard. Thanks, Larry
lisascherzer Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)	Posted: Sun Jan 20, 2008 6:47 pm    Post subject: Like 0 Dislike 0 Check the mortgage paperwork for an assumption clause. I would add your daughter to title with a surviorship deed to avoid probate. After death, the daughter can apply for the assumption. If the assumption is not granted then she can apply with any lender to refinance and pay off the current mortgage at that time. _________________ Lisa Scherzer Allpointe Mortgage Expert Mortgage Broker 440-521-7060 Free Mortgage Quotes Get Mortgage Information Search Real Estate Agents Here

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