Legal Question in Real Estate Law in Georgia
personal porperty
We want to sell our property to our daughter for $1 But we still owe a mortgage on it Can we legally do it if so how can we go about doing it We want to purchase other property in the area and need to put this in our daughters name
Asked on 3/31/00, 5:59 pm
1 Answer from Attorneys
Charles W. Field
Charles W. Field, Attorney at Law
Re: personal porperty
There is no problem. You just sign a deed to her. However, if your concern is getting off the mortgage, that is not so simple. You may still be liable for the payments. Check with your mortgage company to see if the mortage is assumable or if there is another way to solve your problem.
Answered on 4/18/00, 11:21 pm
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