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Transfer real estate to daughter

Laconia, NH |

In NH - have a mortgage - Can I transfer ownership to my daughter? If so, what happens legally if I stop paying the mortgage if the original lender is now bankrupt?

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Attorney answers 1

Posted

Your daughter's interest is subject to the prior lien of the lender. If the lender is "bankrupt," then the loan is an asset that will be administered in the bankrupty. It may buy you time, but it doesn't go away.

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