gingeresque
Junior Member
What is the name of your state (only U.S. law)? NY
My son just inherited a house from his father. The house was willed to him. The attorney who drew up the will advised him against putting the deed in his name "right away". His reasoning is that...once my son puts the deed in his name the bank will ask for the entire mortgage to be paid off by him. Is this correct? I would think that he can just assume the old mortgage.
I'm encouraging my son to put the house in his own name as soon as possible. What steps does he need to take to put the deed in his name?
My son just inherited a house from his father. The house was willed to him. The attorney who drew up the will advised him against putting the deed in his name "right away". His reasoning is that...once my son puts the deed in his name the bank will ask for the entire mortgage to be paid off by him. Is this correct? I would think that he can just assume the old mortgage.
I'm encouraging my son to put the house in his own name as soon as possible. What steps does he need to take to put the deed in his name?