Legal Question in Wills and Trusts in District of Columbia

Parents as mortgage holders

If my wife and I buy my parents house, and my parents hold the mortgage (and we make mortgage payments to them), should my parents pass away, leaving eveything to me, their only son, before the mortage is paid off, what would happen with the mortgage? And who would own the house, My wife and I or just Me? This would take place in Washington DC.

Thank you


Asked on 4/26/08, 8:17 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Parents as mortgage holders

Your parents' estate would hold title to the property, subject to the mortgage---and either its payoff or assumption.

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Answered on 4/26/08, 11:40 pm


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