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can she just hand it over ?

Posted on: 16th Oct, 2008 02:45 pm
My mother had bought a house approx. 10yrs ago and decided to leave it to me as a part of an early inheritance. The home was paid off until about 11/2yrs ago she took out a ten thousand dollar loan against the home. She lives out of state and I have been making her payments because she lives on a fixed income. My question is .. is there any way that I could have the home put in my name and assume the debt without obtaining a mortgage/loan so the home will not reflect as an asset on her.
thanks, MH
hi mph!

welcome to forums!

you can put your name in the property deed with the help of a quitclaim deed. once your name is on the deed, you will have to refinance the loan or go through the process of novation to assume the mortgage in your name.

feel free to ask if you have further queries.

sussane
Posted on: 16th Oct, 2008 08:09 pm
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