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P. Simmons
P. Simmons, Lawyer
Category: Real Estate Law
Satisfied Customers: 33805
Experience:  12+ yrs. of experience including real estate law.
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How do we go about transferring a title of a home with 5

Customer Question

how do we go about transferring a title of a home with 5 acres that has a mortgage on it to a church operating on a501 c3
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  P. Simmons replied 1 year ago.

Hello! My name is ***** ***** I am a licensed attorney with more than 18 years of experience. I am here to assist you with your questions. Please understand that if I ask you for additional information, you are NOT charged again and our communications are NOT timed. So please see this as a relaxed conversation between friends. I am here to help

Also, if you would like to chat on the phone, let me know and I can make that happen.

You would need to pay of the mortgage. That is, if you have a mortgage, the mortgage will have a clause in it that allows the lender to "call" the loan if you transfer ownership.

So if you transferred the home while the mortgage is still active, you can expect the lender will demand you pay off the entire loan balance immediately.

But if you pay off the loan? Then you would own clear title can can give the property to whomever you like

Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.

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