Lansing, MI asked in Real Estate Law for Michigan

Q: I have a home equity loan on my house. Because I haven't paid anything against it for some time a lien has been placed

on my home. Does the lien have to be paid off if I gift the home to a direct descendant?

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2 Lawyer Answers
Vincent Gallo
Vincent Gallo
Answered

A: Yes, your obligation to pay it doesn't simply disappear.

1 user found this answer helpful

Kenneth V Zichi
Kenneth V Zichi
Answered
  • Fowlerville, MI
  • Licensed in Michigan

A: Well yes, the loan doesn't simply disappear because you give away your interest in the house, but I am more troubled by the implication of your statement. If you had a home equity loan you ALREADY had a lien against the house -- it didn't just 'appear' when you fell behind on the payments. Do you mean the lien has been foreclosed upon? You REALLY need to seek local legal help to review your situation, and insure you don't lose your house through neglect!

--This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship. I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice!

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