Legal Question in Wills and Trusts in Indiana
Dad and stepmom are passed on.Step daughter is on the mortage as lending them $1000.00 This needs to be released to sell the home which by the way is deeded to me.There is bad blood and she wont sign and take the $1000.00 to remove it from the title just to be a thorn in my side so i can sell it.What other option do i have to satisfy the mortage to get it lifted from the title?
3 Answers from Attorneys
Go ahead and sell it. The title company will make sure the lien can be released when the money is tendered to her for payment.
It sounds like there was a "straw mortgge" on the property. This is where a fictitious loan is made out so as to enable the owner to get a mortgage exemption. This is common. Unfortunately, since there was never a satisfation of mortgage done releasing the lien, you're stuck. It does not mean you cannot sell the property. I just means that at closing, they're going to pay her off with a check for $1000.00.
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