QUESTION
If there's a mortgage on real property in a living trust, does the beneficiary need credit? Job? Money? Must mortgage holder allow chance at payments?
Asked on Dec 29th, 2015 on Trusts and Estates - California
More details to this question:
Mortgage is currently $1,100 monthly. 170,000 equity and 160,000 owed to bank. Beneficiary has no income, but tenants (friends living there) can make payments.
1 ANSWER
Estate Litigation Attorney serving Redlands, CA
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Price Law Firm, APC
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I'm sorry, but I don't understand your question about the beneficiary needing credit/job/money. There is already a mortgage, so why don't you just make the monthly payments from the rents?
Answered on Dec 30th, 2015 at 8:49 AM