ChatterBank1 min ago
Can I transfer a deed while still holding a mortgage and home equity line of credit?
2 Answers
I want to transfer ownership of my home to my son. He is living in the home and is unable to obtain a homeowners policy. I DO NOT reside there and am unable to obtain a homeowners policy. I want to transfer the deed/ownership of the home to him. Is this possible while I still hold a mortgage and a home equity line of credit? Would transferring the deed make him liable for the liens against the property AND/OR merely stop him from selling the property until they are satisfied?
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