HELP--Title Issues

[Psychodelic-Suz]

Hi--
My Mom put her SC house title in my name without my knowledge in 2009, and I am just finding this out. The legal document states that I bought it for $5 and that there was no debt on the property. The reality is that she took out a loan against the house in 2007, and currently owes $60,000 on it. Can I put the title back in her name without being responsible for the $60,000? Or am I doomed to have to pay this mortgage should she stop or die?

 

[Antigone*]

Hi--
My Mom put her SC house title in my name without my knowledge in 2009, and I am just finding this out. The legal document states that I bought it for $5 and that there was no debt on the property. The reality is that she took out a loan against the house in 2007, and currently owes $60,000 on it. Can I put the title back in her name without being responsible for the $60,000? Or am I doomed to have to pay this mortgage should she stop or die?

You are not doomed to pay the mortgage. When she dies, tell the bank to take their house back.

 

[Psychodelic-Suz]

You are not doomed to pay the mortgage. When she dies, tell the bank to take their house back.

OK. So can I get the house title back in her name while she is still living without this debt being my responsibility?

 

[Antigone*]

OK. So can I get the house title back in her name while she is still living without this debt being my responsibility?

The debt will never be your responsbility, unless that is you signed the loan agreement.

 

[Psychodelic-Suz]

Add feedback

ok, thx. Anybody else want to add feedback, feel free.

 

[divona2000]

...My Mom put her SC house title in my name without my knowledge in 2009, and I am just finding this out. The legal document states that I bought it for $5...

Really? How did she manage this?

(Because if people could 'put' their house titles into another persons name without that person knowing, then debtors by the hundreds would be trying to hide assets this way).

Edit: Oh, and 'selling' it to you, if it actually had happened, might have caused that mortgage loan to be called due in full.

 

[Psychodelic-Suz]

Really? How did she manage this?

(Because if people could 'put' their house titles into another persons name without that person knowing, then debtors by the hundreds would be trying to hide assets this way).

Edit: Oh, and 'selling' it to you, if it actually had happened, might have caused that mortgage loan to be called due in full.

You're preaching to the choir divona2000!! You have brought up the same concerns we have asked ourselves and Mom's lawyer. (whom I do not trust!)