Property Transfer Between Relatives

You wil be responsible for the mortgage until it is paid - even if you transfer the home - I would not suggest making a transfer out of your name until that mortgage is paid - no sense owing on a home you no longer own - your kids (if eligible) could refinance into their names and transfer at that time - each state will have different laws on family transfers - I would ask a local tax person if there will be any hits to anyone if you do this now -

Let us know if there is anything else we can help with
Brian Barnes
ENG Lending
Nationwide Lender