What to do if my parents deeded their house to me and we had an agreement that I would record the deed after their death but they took out a reverse mortgage?

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What to do if my parents deeded their house to me and we had an agreement that I would record the deed after their death but they took out a reverse mortgage?

My parents took reverse mortgage on the house. My mother past away. My father now wants to sell the house. Can I still record the deed?

Asked on August 11, 2012 under Real Estate Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

You can still record the deed that your parents gave you to their house. The problem is that given the reverse mortgage that you have written about it is recorded and you would then take the property subject to the reverse mortgage being in place. I suggest that if you father wants to sell the house that you let him do so and he can keep the proceeds.


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