Q: I am going to purchase a piece of property from my niece and her husband currently own. I am also going to buy
a park model mobile home to put on that property. I will have a mortgage on that property. I would like to will the land and home to my niece free and clear. Is there some type of mortgage insurance I could purchase. what would you suggest?
A: You do not need to talk to an insurance lawyer--at least not now. You need a lawyer experienced in writing last wills to advise you. Hire one.
A:
You would need a Will, Trust or Transfer on death if you want to leave the property to your niece.
As for the mortgage, you would need to purchase life insurance in a sufficient amount to pay-off the mortgage.
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