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You Will Have To Refinance To Add Her To The Mortage And Deed. The lien does not have to be refinanced in order to add someone to the title. A "Quit-Claim" deed will need to be filed to add (or subtract) someone from title. Any local title/settlement agency should be able to assist you with this for a fee. The current lien holder will not know about the addition of any persons to title and, technically, in the event of death the lien can be continued to be repaid (by your mother) without refiancing. * Please be advised Quitclaim deeds do not assure a warranty or covenant of ownership to the property. If the involved parties wish to assure that the property will be protected from probate and other action (such as creditors) upon the death of one of the owners, a warranty/general deed is the best option, preferably as Joint Tenants With Rights Of Surviviorship. It is usually not necessary to inform the lender as the property is secured collateral for the debt owed and the remaining deed holder's are responsible for the debt or reaffirmation of the lending contract to prevent foreclosure on the property.

2006-11-30 03:52:53
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Q: In Florida how can someone be added to a property deed does the lender need to be notified and what happens to the mortgage if one of the title holder's die?
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Related Questions

What happens to your mortgage when you die?

Generally:The person receiving the property can sell the property and pay off the mortgage from the proceeds.The mortgage can be assumed, or refinanced in the heirs name with the original mortgage paid off.The heir can allow the bank to take the property.


What happens to the mortgage loan when bought on a tax deed sale who is responsible or will the bank put a lien on the property?

A mortgage IS a lien on the property. The bank already has an interest in the property that was perfected as soon as the mortgage was recorded in the land records. If you purchase property that is subject to a mortgage, the mortgage must be paid or the bank will take possession of the property by foreclosure.


What happens if a piece of property you purchased by quit claim deed has a mortgage against it?

You must pay the mortgage or the lender will take possession of the property by foreclosure.


What happens to a mortgage loan when the sole loan holder dies and the property is titled Joint tenants with full rights of suvivorship?

The mortgage obligation remains on the property. If the holder of the mortgage dies then her heirs own the mortgage.


Can you get a joint mortgage with your grandparent and what happens if she dies can i keep the house and mortgage?

The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.


What happens if you can't pay your second mortgage?

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What happens to property with a mortgage when the owner with a will dies?

The estate must be probated. Either the heirs need to pay the mortgage or the bank will take possession of the property by foreclosure.


What happens to the first mortgage if the second mortgage is in foreclosure?

nothing...it remains a lien on the property and a debt which is assumed by the successful bidder at the auction of the 2nd mortgage


What happens to the land in a reverse mortgage contract?

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A friendly foreclosure enables a mortgagor to prevent the mortgagee from taking the property by statutory means This can be accomplished by use of an?

What happens to a second mortgage if there is a friendly foreclosure of the first mortgage on property?


What happens if you don't pay the mortgage?

You would be in default of the mortgage and the bank will take possession of the property by foreclosure. You would lose your home.


What happens to a mortgage loan if the borrower dies?

The mortgage is attached to the property. So if an heir takes possession of the home, he/she must pay the mortgage. Otherwise, the bank will foreclose.


What happens to a mortgage when home owner is deceased and the home is gifted to a child in a trust?

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What happens if you mortgage a property with a house in monopoly?

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What happens if a property is foreclosed and you have a life estate?

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If your mother owns a home in Florida and conveys it to herself and your brother and has a mortgage in her name only what happens to the property if she dies?

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What happens if someone pays their second mortgage but not their first?

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If my husband dies what happens to the house I'm not on the mortgage?

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What happens when a lien is put on your house?

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What happens if you default only on your home equity line but not your first mortgage?

The second mortgagee can foreclose and take possession of your property subject to the first mortgage.


What happens to second mortgage if first mortgage is foreclosed?

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What happens to a mortgage when the owner dies and has children but no will and no insurance to pay off the mortgage?

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What happens when a waranty deed is executed on a property but there is still a note for the mortgage?

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What happens to a promissory note if the creditor takes title to real property?

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What happens to mortgage debt when adult children acquire it?

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