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    purr18's Avatar
    purr18 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 31, 2008, 11:26 AM
    Can a mortgage and deed be transferred over from mother to son ?
    We've been living in this house that we've been paying the mortgage for, for the past 5 years it's under my mom's name the house and the mortgage . We'd like to make it under our name the title and the mortgage . Does it have to be a sale transaction if it's between mother and son? Or can it be handed over us without the closing coast? We are in TX
    Thank you
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Oct 31, 2008, 11:59 AM

    Yes. Whenever there is a change in ownership its considered a sale transaction. The only exception is adding a spouse's name.

    However, it might be handled without closing if the mortgage company will allow an assignment of the mortgage.
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