Summary
If a home is gifted, the original borrower usually retains mortgage responsibility unless the lender agrees to transfer it. In foreclosure, the grantee may own the property if the transfer was recorded, but the mortgage must still be addressed. If the grantor has passed away, the foreclosure can proceed if the mortgage remains unpaid. Consulting a foreclosure attorney can help explore options and rights.Full Conversation
The home was sold at auction
Got it. The situation can be complex.
Was the home sold at auction due to a foreclosure or another reason?
Forclosure
In foreclosure situations, several legal aspects may need attention:
- The original borrower is responsible for the mortgage unless otherwise arranged with the lender.
- Foreclosure typically extinguishes the rights of the borrower and transfers ownership subject to the lender's approval.
Would you need guidance on navigating post-foreclosure issues or understanding your rights and obligations?
The home just went into forclosure. The home was gifted and recorded in *
It sounds like there are multiple legal considerations at play here. Given the foreclosure and the transfer of the home as a gift, you may need to address:
- Mortgage responsibility: Typically remains with the original borrower unless explicitly transferred.
- Foreclosure process: Legal steps and rights post-foreclosure.
Would you like information on how to approach the lender or seek legal advice for this situation?
The grantor died last year so how can they take the home from the grantee
Since the grantor passed away and the home was foreclosed, several legal issues might arise:
- Transfer of Ownership: If the home was legally transferred and recorded in *, the grantee owns the property.
- Mortgage Responsibility: The mortgage likely remained with the original borrower unless formally transferred.
- Foreclosure: The foreclosure could still proceed if the mortgage wasn't paid, even if ownership was transferred.
Would you like information on contesting the foreclosure or understanding potential next steps?
Yes
Given the complexity of your situation, here are some key points to consider:
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Ownership Transfer: Ensure the title transfer was properly recorded in *.
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Mortgage Responsibility: The original borrower (grantor) likely remained responsible unless the mortgage was formally assumed by the grantee.
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Foreclosure: If the mortgage wasn't paid, foreclosure can proceed regardless of ownership transfer.
~You may want to consult with a foreclosure attorney to explore your options and rights. Would you like more information on finding a foreclosure attorney or understanding the legal process?
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