Posted on: 16th Dec, 2009 10:21 am
I have a house that has about 4 acres of land and I would like to know if I can gift or sell a piece of my land off to my daughter even though I still have a mortgage on it?
in order to subdivide your property and deed a piece to your daughter, you'd have to have your lender's blessing. they're likely to seek a paydown on the mortgage, though, since you're taking away some of their collateral. you need to discuss this with them before you take any action.