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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55444
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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My mom is wanting to deed me her home. She currently owes 13,000.00

Customer Question

My mom is wanting to deed me her home. She currently owes 13,000.00 which I am currently paying her mortgage. Will a quick deed suffice?
JA: OK. The Real Estate Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: no
JA: Please tell me everything you can about this issue so the Real Estate Lawyer can help you best. Please give me a bit more information, so we can help you best.
Customer: My mom's mortgage is with chase. She is 82 years old and we live together. I make monthly payments. I am also on her bank account. She wants to quick deed the home to me. is a quick deed sufficient or do we need a warranty deed?
JA: Is there anything else important you think the Real Estate Lawyer should know?
Customer: no
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.
Good afternoon. My name is ***** ***** I look forward to helping you. Yes, a quit claim deed is the appropriate deed. And, as long as you make the mortgage payments on time, there will be no issue with the mortgage with regard to the transfer of title. Federal law prevents the lender from calling the loan. 12 U.S. Code § 1701j–3 - Preemption of due-on-sale prohibitions(d) Exemption of specified transfers or dispositionsWith respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon—(6) a transfer where the spouse or children of the borrower become an owner of the property; Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!
Customer: replied 1 year ago.
Thank you so much for your quick response. This is an excellent website and very affordable. Thank you again Richard.
Expert:  Richard replied 1 year ago.
You're very's my pleasure to help! And, thanks for your kind words!