Legal Question in Real Estate Law in Indiana

mother had a home equity loan on property she deeded to me. Am I responsible for the home equity loan or is she? We did not have title insurance done since it was just a quit claim transfer.


Asked on 10/02/09, 4:00 pm

1 Answer from Attorneys
Jay Rigdon Rockhill Pinnick LLP

She is personally liable for the loan, and you are not. However, if she does not pay, the bank will foreclose on the property to get paid, meaning they will sell the property that was deeded to you in order to get paid.

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Answered on 10/02/09, 4:10 pm


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