QUESTION

My father has a family trust with several income properties. He has a properties designated to each child. Will I have to qualify for the mortgage on

Asked on Dec 30th, 2016 on Trusts and Estates - California
More details to this question:
N/A
Report Abuse

1 ANSWER

Estate Litigation Attorney serving Redlands, CA at Price Law Firm, APC
Update Your Profile
At his passing, you can take the property subject to the existing mortgage or you can assume the mortgage (provided that it is assumable).  The law is changing in this area and new legislation allows for the successor in interest to apply to assume the loan.
Answered on Jan 20th, 2017 at 10:04 AM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters