Deed in Lieu – can mortgage company ask for SS’s for heir in will?

Brother died, one daughter 18 only heir, but his 3 sister are named on will as
contingent beneficiaries. House in foreclosure…offered Deed in Lieu to expedite
since house is underwater…mortgage company wants everyone’s SS that is on
will…saying they need to protect themselves if we decide we want the house
back..which we don’t. Also want spouses SS’s. Don’t feel comfortable giving
our ss’s. Do we have to? What is alternative to finish this? Foreclosure could
take another year or two.

Asked on October 5, 2017 under Estate Planning, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

The company has a legitimate right to protect itself against later claims by ensuring positive ID of everyone who may have an interest in the home (i.e. the SSN is the only unique identifier used in our country), and showing it did its "due diligence" to ensure their consent to, or at least knowledge of, the transaction by asking for their SSNs (which presumably would not be provided if they did not consent). And remember: the are under no legal obligation to accept a deed in lieu--it is voluntary on their part. Since it is voluntary, they can put any conditions on doing so that they want. If you do not want to comply with those conditions, you don't have to go through with the deed in lieu.


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