Legal Question in Real Estate Law in Indiana

My home is in foreclosure. I own property and a house adjacent to the mortgaged home that has free/clear deeds. Can the mortgage company (chase bank) take my other property? To avoid that can I sign the deeds over to a family member that I owe money to as payment of a note?


Asked on 2/16/11, 6:43 pm

1 Answer from Attorneys

Practically speaking, the judgment for foreclosure will act as a judgment lien on the adjacent property. In theory they can execute on that property. However, judgment liens are subordinate to many other types such as mortgage liens. You have not provided suffiient facts to enable an answer to the rest of your inqiry. However, you have stated enough so that I can recoginze that you may have alternatives available. You should consult with a local attorney.

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Answered on 2/19/11, 5:01 am


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