North Providence, RI asked in Real Estate Law for Rhode Island

Q: I am in RI. My siblings and I inherited a house from my brother when he died. There is a mortgage on the house.

One of my brothers is considering buying the house. We will naturally charge him a lot less than the appraised price. Does the mortgage go with the house or are we responsible for paying it off before we sell it to him?

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2 Lawyer Answers
Anthony M. Avery
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A: First a determination of who are the titled owners should be made. If the Mortgage is not satisfied and released, the brother takes the improved real property subject to the Mortgage. Apparently none of you all are personally liable on the Note, but if not paid, Foreclosure occurs. Remember taxes and insurance also have to be paid, or Mortgage Default also occurs. Hire a competent RI attorney to draft the Deed with a proper Derivation of Title Clause.

Albin Moser
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  • Providence, RI
  • Licensed in Rhode Island

A: Yes, the mortgage goes with the house. He needs to get a mortgage to pay off the existing mortgage plus whatever additional value you and he decide upon as part of your purchase price. And, whoever of you is living at the house now ought to pay the mortgage and insurance for the time being.

Neville Bedford agrees with this answer

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