Legal Question in Real Estate Law in Arizona

I was left a house in a trust on a special warranty deed to me only THEN WANTED TO ADD MY MOM IN CASE I DIED WAS ISSUED A SPECIAL WARRANTY DEED THAT I A SINGLE MAN WHO AQUIRED TITLE AS MY NAME AND MY MOTHERS NAME ASAS GRANTORS CONVEY PROPERTY TO MY MOTHER WHERE SHE GOT A LOAN FOR 140,000 THEN SHE AS GRANTOR CONVEYS PROPERTY BACK TO ME AND HER AS JOINT TENANTS WITH RIGHTS TO SURVIVORSHIP ANAD ATTACHED ACCEPTANCE OF JOINT TENANCY BUT MY MOM NEVER LIVED HERE AND THE LOAN IS IN DEFAULT NOW THE BANK WANTS TO FORECLOSEWHO SEEMS TO BE IN THE WRONG MORTAGE BROKER TITLE COMPANY ME OR MY MOM THE LOAN IS IN HER NAME ONLY AND I WAS LEFT THE HOUSE IN A TRUST PLEASE HELP


Asked on 2/13/11, 12:18 am

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

You need to retain a lawyer to see what was actually done and how it was done to determine the rights of each party. However, if the property is worth less than the loan amount, it may not be worth a lot to do so. On the other hand, it there is equity in the home, then the title and ownership can be straightened out.

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Answered on 2/13/11, 1:18 pm


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