Pensacola, FL asked in Real Estate Law for South Carolina

Q: Quite claim to/from deceased parent before they took a reverse mortgage loan. Am I responsible for any debt?

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Anthony M. Avery
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Answered

A: Not sure of your facts. But if the home was deeded to you prior to the reverse mortgage, then you supposedly own it and parents had no interest to sell later which is what a reverse mortgage is. If you did not sign the note, then you personally owe nothing. But if you do not own it, and the reverse mortgage is perfected, the lender will get the place now or later. Hire a competent SC attorney to search the title and determine its status.

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