Transferring real estate by descent

[lawanalew]

I live in Mississippi. I was told by an official at the bank that issued and services my loan that I could get around the due-on-sale clause in my deed of trust by transferring title to my house to my son. He called it a family transfer. Is this true and how do I transfer title?

 

[HomeGuru]

It depends on the exact language in the due on sale clause.
You should hire an attorney to review the mortgage clause, then write a letter (if needed) to the bank confirming the family transfer issue. This will protect you and your son in the event the bank changes ownership and the new owner tries to enforce the provisions.
A Quit Claim Deed is used to transfer title.
Keep in mind that even if you deed the property to your son, you are stil liable for the mortgage.