Legal Question in Real Estate Law in Texas

mortgage

My mother is planning to move in with my husband and I for health reasons. We need to buy a home for all of us but her credit is better than ours and we would like to put the mortgage in her name. If she passes away, is there a way to make the mortgage transferrable to us?


Asked on 11/16/08, 4:48 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: mortgage

You will want to take title to the property with a "survivorship deed." The mortgage doesn't need to be transferred into your name and you can continue to make the payments. Be sure that you make the payments because the lender can foreclose if you don't. There may be other issues, so you and your mother probably will want to consult an attorney.

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Answered on 11/16/08, 4:53 pm


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