Legal Question in Real Estate Law in New York

My grandfather recently passed away. He had a 250,000 equity loan on house to pay for home

aides. Loan was take 5 years ago. 10 years ago the house was put under his daughters

name due to possibility of being put in nursing home. My question is : Can the bank still legally

foreclose on the house if payments stop even though the house was under his daughters

name at the time of the loan? I dont know why the bank gave the loan to him while house was under someone elses name. Bank will not speak to us until executor paperwork is submitted>

else s name.


Asked on 6/25/15, 3:38 pm

3 Answers from Attorneys
Walter LeVine Walter D. LeVine, Esq.

I am not sure, but is it possible that his daughter signed along with him or guaranteed the loan? It is possible that this was done and a copy of the recorded mortgage should be obtained to see what it discloses. If the bank will only speak to an estate representative, the executor should qualify promptly and obtain information from the bank. More information is required before an opinion is provided.

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Answered on 6/25/15, 4:04 pm
David Slater David P. Slater, Esq.

Not if the daughter owned it.

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Answered on 6/25/15, 7:23 pm
Alan Joseph Alan L. Joseph, Esq.

You will need to have an attorney review all the documents. Perhaps your grandfather remained on the deed or the new deed was never filed with the county clerk. Or perhaps the daughter also signed the loan. Someone will have to review the documents filed in the clerk's office (latest filed deed and mortgages).

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Answered on 6/26/15, 3:40 am


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