Legal Question in Real Estate Law in Georgia

Real estate mortgages.

Is the loan transferable upon death of the borrower to the heir that gets the home?


Asked on 7/12/07, 2:13 pm

2 Answers from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

Re: Real estate mortgages.

Technically, the loan is not transferred; it just goes with the property. You should have an attorney review the loan documents.

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Answered on 7/16/07, 6:16 pm
SHERRY RAGOLE RAGOLE & ASSOCIATES, LLC

Re: Real estate mortgages.

Transferability is dependent upon the terms of the documents that the borrower executed with the lender. It is very likely that the lender protected itself and that any transfer of the loan requires the lender's approval. Furthermore, it is also very likely that balance of the note will be due upon the borrower's death.

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Answered on 7/12/07, 2:50 pm


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