If a loved on is in the hospice and the adults want to change the ownership of the house to their name, how is it done? A quit Clam Deed? If done, will the mortgagor be able to ask for a new mortgage even if they pay it on time?
Asked on 4/15/13, 12:05 pm
1 Answer from Attorneys
Kenneth Wilk
Rubino Ruman Crosmer & Polen
There are many ways to transfer title, including a will, a trust, a quitclaim deed, a deed upon death, all depending on your particular circumstances. Depending on the language in a mortgage, the lender could accelerate the debt or request a new mortgage. In many situations however, the lender is amenable to leaving the status quo, as long as someone makes continuous payments.
Answered on 4/15/13, 5:15 pm
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