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Home > How it Works > Can I transfer a deed while still holding a mortgage and home equity line of credit?

Can I transfer a deed while still holding a mortgage and home equity line of credit?

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marine2mommy | 12:15 Fri 16th Oct 2009 | How it Works
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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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Avatar Image heathfield
There are companies that provide insurance on buildings and contents for rented out properties. Might it be worth sounding them out and explaining your present situation?. Search on Google for 'landlord insurance'
12:35 Fri 16th Oct 2009

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