Legal Question in Real Estate Law in Nevada

My parents were getting older and started having health issues and couldn't really take care of their home anymore. So we decided to sell our home and they sold their home. Together bought a larger home so that we could all live together and so we could take care of them. My parents credit was in better shape than mine so the loan is in their name. Well my father passed away, so we got a family trust and I am the beneficiary of it. My question is if my mother passed away do I need to be on title so that the loan will stay the same on our home?


Asked on 1/20/10, 7:56 pm

1 Answer from Attorneys
Jeffrey Cogan Jeffrey A. Cogan, Esq., Ltd.

If the home is in the trust, the Trustee must give you the house upon your mother's passing. You also have the benefit of owning the home but not being liable on the debt. If you lost your job or just wanted to get rid of the house, you could walk away and not be worried about getting sued for the loan. If you have any questions, you can email me at [email protected]

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Answered on 1/26/10, 7:38 am


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