Tulsa, OK asked in Contracts and Real Estate Law for Oklahoma

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?

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2 Lawyer Answers

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.

Richard Winblad
Richard Winblad
PREMIUM
Answered
  • Edmond, OK
  • Licensed in Oklahoma

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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