Legal Question in Real Estate Law in Virginia
Paying off a Deed of Gift
Can a person who receives a house under a deed of gift a few years ago, turn around and pay off the outstanding mortgage? Isn't this illegal since it is compensating the giver? Does it void the deed of gift? Is it fraud?
Asked on 10/29/08, 7:45 pm
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Re: Paying off a Deed of Gift
More information is needed to answer this question, and further clarification as to the type of mortgage and the relationships of the people involved in these alleged transactions.
Answered on 10/29/08, 11:54 pm