How can I Will my House with Mortgage on it

[jaylind_01]

My state is Pennsylvania. I'm writing my will and would like to leave my house to my child but I have a mortgage on my house. I have 25% equity in the house. Can I will my house to my child or any other person while there's a mortgage on it? If yes, how?

 

[justalayman]

yes.

to my son, brother, mother, friend, guy across the street, whomever; I leave my house.


Of course there is the problem of there being a mortgage loan on the place. If there are adequate assets in your estate, you can direct the funds from your estate be used to pay off the mortgage loan. Other than that, the house comes with a catch: there is a mortgage loan attached to it.

 

[LdiJ]

yes.

to my son, brother, mother, friend, guy across the street, whomever; I leave my house.


Of course there is the problem of there being a mortgage loan on the place. If there are adequate assets in your estate, you can direct the funds from your estate be used to pay off the mortgage loan. Other than that, the house comes with a catch: there is a mortgage loan attached to it.

What most heirs do in that case is either live in the house and pay the mortgage, or sell the house and take the equity. Its a very normal situation.

 

[jaylind_01]

Thanks for all your responses. I wasn't certain if I could will the house without it being paid off.