QUESTION
what needs to be done to legally sell my house to my brother?
Asked on Jul 31st, 2017 on Real Estate - Pennsylvania
More details to this question:
The mortgage was assumable, so we are working on transferring that to him; the mortgage company will have the deed and the title transferred; is there anything else that needs to be done? I don't want any loose ends!
1 ANSWER
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Am I correct in assuming that your goal is to no longer be responsible for the loan/mortgage? if so, then the current loan will need to be paid off either in cash or your brother gets his own loan. You can certainly transfer the property but without paying off the mortgage (loan), you continue to be personally responsible for it.
Answered on Aug 02nd, 2017 at 11:55 AM