Q: If a property that was deeded to me prior to the death of the mortgage holder is being foreclosed on, am I responsible?
Is the estate holder responsible for the debt?
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A: You are not PERSONALLY responsible for paying the mortgage, but if you don’t pay it the lender can foreclose. Also, given that the decedent transferred the property to you prior to death, it is not part of his or her estate. The transfer removed the property from the decedent’s estate and was made subject to the mortgage. It is highly unlikely that the lender will try to get paid by the estate because it is probably fully secured by the property.
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