Posted on: 19th Dec, 2007 07:01 am
What are the steps to processing an assumption and transfer of property and mortgage to daughter once mother has passed. If the daughter's assumption is approved by the lender and the transfer agreement is signed, is there a closing or anything like that invloved in Texas. Does the attorney just process paperwork and that's it?
If the estate is in probate, you must transfer the property that way. Otherwise, you can file an "affidavit of heirship" and transfer the property that way. You should consult with a local probate attorney.
Hello Jamd,
I don't think there's closing cost associated with an assumption. But as far as I know you have to pay an assumption fee.
You should consult your lender to get further information on this.
I don't think there's closing cost associated with an assumption. But as far as I know you have to pay an assumption fee.
You should consult your lender to get further information on this.
Hi Jamd,
Welcome to the forum.
I agree with Jenkin that there is no closing cost associated with assumption but you need to pay the assumption fees.
Best of luck
Happy Holidays
Welcome to the forum.
I agree with Jenkin that there is no closing cost associated with assumption but you need to pay the assumption fees.
Best of luck
Happy Holidays
I inherited a property but have never transfered the ded into my name at the county courthouse. It went through probate. What do I need to do to get the name changed on the deed?
Hi,
Welcome to the forum.
If you have gone through the probate, that is good for you. Now you need to go to the court house and affidavit the deed to your name. Contact an attorney in this regard.
Thanks,
Larry
Welcome to the forum.
If you have gone through the probate, that is good for you. Now you need to go to the court house and affidavit the deed to your name. Contact an attorney in this regard.
Thanks,
Larry
check the mortgage paperwork for an assumption clause. i would add your daughter to title with a surviorship deed to avoid probate. after death, the daughter can apply for the assumption. if the assumption is not granted then she can apply with any lender to refinance and pay off the current mortgage at that time.