Legal Question in Real Estate Law in Florida
I inherited a condo with a mortgage. I never signed any paperwork, or qualified for the mortgage, the bank just changed names on the loan. Am I bound by the terms of agreement signed by the deceased? This property is in North Carolina.
Asked on 7/14/12, 1:02 pm
2 Answers from Attorneys
Barry Stein
De Cardenas, Freixas, Stein & Zachary
North Carolina law applies.Dont know that. Generally if you take property subject to a mortage, while you are not subject to direct action for failing to honor the agreement, the property is subject to enforcement of the agreement. In this way you are bound by the agreement terms, even though you cannot be responsible for non payment beyond losing the property. A more specific question would assist you in getting to the answer you need.
Answered on 7/14/12, 3:11 pm
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