Posts Tagged ‘Mortgage transfer’
Will My Children Owe Mortgage Balance In Full When I Die?
Question: I own three rental properties in Surprise. Each one has a bank mortgage with a “due on sale” clause, i.e., the mortgage must be paid in full upon any transfer of the rental property. My revocable living trust states that my three children become the owners of these three rental properties upon my death.…
Read MoreCan a girlfriend take over a boyfriend’s mortgage?
Question: You had a recent column about a daughter not having to pay off the mortgage on a Phoenix home she inherited from her mother. You said that the daughter could just continue to make the monthly payments, even though there was a due-on-sale clause in the mortgage requiring immediate payment of the entire amount…
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