Can I will my house and mortgage payments to a friend?

UPDATED: Sep 29, 2022

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Can I will my house and mortgage payments to a friend?

Any special forms to fill out with the bank to make this happen?

Asked on October 4, 2015 under Real Estate Law, Alaska


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

No, not the mortgage. You can will the house to the friend, simply be creating a will but you cannot "assign" the mortgage to another person. Or rather, you almost never can, but you can check the mortgage paperwork to see if it can be assigned, which is the term for transferring a contractual obligation, to another most mortgages contain provisions preventing assignment. Rather, when you pass away, the mortgage the remaining balance will be due--if it is not paid, such as by the estate e.g. out of any funds you left behind or by a beneficiary e.g. the person being willed the house, the bank can foreclose. So while you can will the house, there'd better be some provision in the will to pay the mortgage out of the estate, or the beneficiary had better be able to pay off or refinance the mortgage.

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