What is the name of your state? new jersey
I am considering a loan for my mother from a state agency for house repairs.
The repayments are deferred and possibly forgiven over time if qualified, provided the house is not sold or transfered, at which time the full amount is due.
My mother owns the house.
How should I understand "sold or transfered", if there would be a future inheritance to the children or if the deed is changed to joint ownership with children or sold / gift to children ?
Thanks for comments.
I am considering a loan for my mother from a state agency for house repairs.
The repayments are deferred and possibly forgiven over time if qualified, provided the house is not sold or transfered, at which time the full amount is due.
My mother owns the house.
How should I understand "sold or transfered", if there would be a future inheritance to the children or if the deed is changed to joint ownership with children or sold / gift to children ?
Thanks for comments.