Legal Question in Real Estate Law in Massachusetts

Re: Quick Deed - Carefull

What you are trying to do is not rate.

But there is a problem. The morgage probably has a clause that does not permit a transfer of the deed to another person. Such a transfer or attempted transfer will or may trigger a demand from the lender that the entire amount of the mortgage be paid at once.

The only option that you have, at least on my thinking on a Sunday, is to alter the deed to make you the beneficiary if your father dies. There are some poetntial problems with this as well, but this change will probably not trigger the lender's concerns.

What would make sense is to have an attorney review the mortgage and discuss your options. You can contact my office if you have futher questions.

Re: Quick Deeds

The way that you have gone about ensuring the transfer of ownership WILL NOT take priority over the mortgage company's right to foreclose if they learn that the property was transferred. If your father wishes to transfer the property to you, there are better and more reliable alternatives. As it stands, the Mortgage takes priority over any quitclaim deed that was filed after it, so your "ownership" interest is second in line to lender's. Please contact me if you wish to discuss the particular details of your situation. 978.250.4255

Re: Quick Deeds

The answer to your question is as follows"

1. Title to the property is yours subject to the Mortgage.

2. If the Mortgage company ever becomes aware that your father no longer owns the property they have the right to call the loan and if you do not pay it off can foreclose on the home.

I think you and your father created more problems for yourself and could have done this differently.

You should talk to an attorney and see how to fix the problem.