Can the bank come back against a transferred house deed?

My mother is ill and elderly, so she decided to transfer her home into my name so that I wouldn't have any problems with it once she passes. I have my home house, but I have had to move in with her to take care of her. My house had started to fall in and is in really bad shape. I still owe money on it and am so overwhelmed that I have thought about walking away from it altogether. Can the bank come and claim my mother's house if I do that?

Wheeling, WV -

Attorney Answers (1)

Sidney Weinstein

Sidney Weinstein

Real Estate Attorney - Atlanta, GA
Answered

If your Mom's house has a loan against it, there is a clause in the document (i.e., mortgage, deed to secure debt, security deed) that secures rights in your mom's house to make sure the bank has a source of repayment for the loan. This clause is called a "due on sale clause". Transferring the house to you is in violation of that clause, and the bank still has rights in the property.

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