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

UPDATED: Oct 1, 2022

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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


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 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.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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