Will a deed be void if the person who I signed the deed over too cannot assume the mortgage?

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Will a deed be void if the person who I signed the deed over too cannot assume the mortgage?

I signed deed over in favor of an ex but she cannot afford the closing costs.

What happens? Do I still have ownership in the house?

Asked on October 30, 2018 under Real Estate Law, Delaware

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

You would only void the transaction is you can show that she committed fraud--that is, that she knew (or logically must have known) at the time you agreed to sign it over that she could not assume the mortgage, etc. If she thought she could, that was not fraud. Unfortunately, generally only fraud voids or undoes the transaction. Without fraud, you could sue her for breach of contract (not honoring the agreement), such as for any amounts she should have taken over from you but did not, but cannot get the home back.


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