Posted on: 21st Feb, 2010 10:40 am
HI,
What forms do I need to leave my son my home when I die. I still have a mortgage on the home so how will that work.
What forms do I need to leave my son my home when I die. I still have a mortgage on the home so how will that work.
Hi TammyDee,
You can draft a will and declare your son as the beneficiary of the property. After your death, he would have to probate the will and get the property transferred in his name. Once the property is in his name, he will have to refinance the loan and transfer it in his name.
You can draft a will and declare your son as the beneficiary of the property. After your death, he would have to probate the will and get the property transferred in his name. Once the property is in his name, he will have to refinance the loan and transfer it in his name.