Legal Question in Real Estate Law in Massachusetts

More information is required to answer your question.

First, did you inherit the property by Will or as a result of the deed?

Second, if by Will was the Condo deeded to you out of the estate or does it remain in your mother's name? if it is in your mother's name and there are no other assets in the estate you have no liability.

Third, if you inherited by deed meaning she listed you as a joint tenant or made a gift to you while retaining a life estate, you may be able to avoid some of the liability.

With respect to the Condo, you may be able to avoid foreclosure simply by offering a deed in lieu.

You need to contact an attorney and go through facts in detail so you can determine the best way to deal with this problem.

Notwithstanding how the condo became yours, you obviously want to get rid of it. If you cannot sell it and have lowered the asking price to an amount sufficient to cover the mortgage only....but still can't...it's time to explore other options. Deed in lieu is one option, but not likely to be welcomed by the mortgagee primarily because these companies are already overwhelmed with reo property which is expensive to carry, manage and often will fall into disrepair without occupants. Have you considered a short sale? Present offers for less than the mortgage amount...buyers get a deal, mortgagee doesn't need to foreclose, manage, and re-sell the property. There are too many options to cover in this short response, but a short sale along these lines is likely your best bet. 1 617 531 9766 for more.