Legal Question in Credit and Debt Law in Georgia

Quit Claim Property to Estate

I am facing foreclosure of a property I inherited from my late husband. I refinanced the property (a vacant lot in Fl) with my father (an investor in the original purchase) and can no longer afford the payments. What are the ramifications if I quit claim the property to the estate of which I am the administratrix?


Asked on 2/05/09, 12:08 am

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Quit Claim Property to Estate

I'll defer to a Florida lawyer on the real estate issues, but doing that in Georgia would not stop the foreclosure and you could face sanctions for breaching your duties to the estate and attempting to use it for an improper purpose. Such tactics usually do more harm than good. If you can't pay secured debt, you generally lose the property - that is the deal you made.

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Answered on 2/05/09, 7:37 am


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