Real Estate Law
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Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.
Have you talked to the lender to see if they would accept them back?
Are they worth close to what you owe on them?
Ok, thank you for that information. Unfortunately, you can't force ownership of property on someone.. In order for ownership to transfer, there must be a transfer by deed, and also an "acceptance" by the party being transferred to.
So you can't unilaterally transfer the properties back, but if you told them you are going to default on the loan, and would like to discuss a "deed in lieu of foreclosure", then if the value is close to what is owed, then the bank may not want to spend the $10,000 or more on an attorney to pursue a foreclosure on all the properties..
I just wanted to touch base with you and check in.
Did you have any further questions I can help with?