Legal Question in Wills and Trusts in Florida
My mother died in 2007. The house in which my family and I live was in her name, as she intended to live in it with us. I have been paying the mortgage, taxes, improvements, etc. during the entire lifetime of the mortgage. I am ready to close the estate now and need to move the house out of my mom's name. Is it possible to assume the mortgage or have it moved into my name?
1 Answer from Attorneys
Not necessary. When you inherit the house, the mortgage goes with it and is not required to be paid off, modified or assumed. Interestingly, if you default on the mortgage, if just leave it the way it is and don't assume it, you are not personally liable and the lender can only go after the house.
You probably will have to notify the lender and provide the transfer instrument/legal documents into your name so that they will change their records. Just be careful if they ask you to sign anything.
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