Legal Question in Real Estate Law in New York

assignment of mortgae

A friend loaned me 110k to renovate a brownstone. I was supposed to refinance it to repay him and have been unable to. Should I do a mortgage agreement between he and I or put him on the deed? What would be best to protect him? Can I do this with the forms on your site on my own?


Asked on 2/05/09, 9:54 am

1 Answer from Attorneys
John Colonna Colonna & Urso, LLP

Re: assignment of mortgae

You can give him a mortgage and have it recorded. You could also add him to your deed but that would probably violate the terms of your first mortgage. It's always best to have a lawyer prepare the papers for you.

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Answered on 2/05/09, 11:27 am


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