Ladonia, TX asked in Foreclosure and Real Estate Law for Texas

Q: Home Deeded in one name and Mortgaged in another.

I recently discovered my single dad, whom has a mortgage, deeded the house to me and his name is no longer on the deed. He is still paying the mortgage. If he defaults on his loan can the bank foreclose on the house, or will any of this ruin my credit in any way? Would he be able to refinance or sell? He is older and I am also the executor of his estate as well inherit everything according to his will. Could this be an issue after he passes?

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1 Lawyer Answer
Anthony M. Avery
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A: You have taken title subject to the mortgage. It is his debt as the notemaker, but the real property stands as secured collateral. The lender can always foreclose if the note is not paid or other terms are not met. It is not your debt.

Teri A. Walter agrees with this answer

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