Legal Question in Real Estate Law in Georgia
My husband and my deceased father-in -law signed a quitclaim deed when my father - in - law was sick and close to death to prevent us from having to move out of the house we all lived in with my father-in-laws name on the mortgage. We have lived in the house six years after his death paying the mortgage until recently when our finances took a turn for the worse. The house is supposed to go up for auction next week. How will this affect my husbands credit? How long do we have to move out after the auction takes place?
1 Answer from Attorneys
The new buyer can take possession the second of a foreclosure, so you have to move by Monday.
The quitclaim deed probably violated a due on sale clause in the mortgage. Additionally, since no one here knows what else has been signed, no one here can know if his credit will be affected, or if he can be sued for a deficiency. The lawyer who wrote the deed will know, so ask him.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
