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me and my mother live in a home that needs to be sold to pay off debt in estate… Can I pay the debt and keep the home?? or how can I go about keeping it?? can my mom sell it to me??
Asked on February 17, 2018 under Real Estate Law, New York
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 3 years ago | Contributor
If you can pay the debt in full, the home will not have to be sold: once the debt is paid, the claim has been satisfied and there is no longer any ground for the sale. That is the general rule: if the sale is already in process, however, if the other side will not voluntarily agree to call off the sale, you might have to go to court for a court order stopping the sale (dependent on you paying the money). You might also have to pay not just the underlying debt but also any expenses the other side has incurred in trying to collect.
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