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LawGirl, Attorney
Category: Estate Law
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I am the executrix of an estate involving three houses with

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I am the executrix of an estate involving three houses with mortgages. My niece is the beneficiary of the three and she does not qualify to assume the mortgage. One of these houses is worth less than the mortgage balance. I do not want the estate to be liable if this house is foreclosed on later. I want to deed her the house and I assume if I do this that the mortgage company will demand payment in full immediately and house will be foreclosed on. Will the estate be libel to the mortgage company later on in any way? One of the other houses is also mortgaged by the same company. We are in Alabama.
Submitted: 5 years ago.
Category: Estate Law
Expert:  LawGirl replied 5 years ago.

LawGirl :

Thank you for your question. I am sorry to hear of your loss. Unfortunately, deeding the property to your niece does not absolve the estate of responsibility for the property. To the extent that the home is foreclosed upon, the estate will remain liable. The only way in which the estate will not be liable is if the property is sold and/or refinanced.

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