Do I need to own a house or have good credit in order to safely accept the deed of my sister’s house?

My sister is very sick and I’ve got the power of attorney. She wants to transfer the house to my name too. I was told that I need to own a house and have good credit, if so then I may not be able to accept her wish.

Asked on July 25, 2012 under Real Estate Law, Connecticut

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I am so sorry for the situation.  Who told you that?  Is it because the house has a mortgage on it?  You can not transfer the house if it does unless you refinance in your name.  Please seek legal help in your area.  You can inherit the home via Will and continue to pay the mortgage and the lender can not call in the loan.  But maybe a trust would better suit your situation.  Good luck.


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