Can I donate my home, since the bank refuses to foreclose or take it back? 7 Answers as of April 12, 2011After filing bankruptcy on a home and the title still in my name and the bank will not take back, can I donate the home to some kind of organization, since the bank refuses to foreclose or take back?
Burnham & Associates | Stephanie K. Burnham
No, you may not donate your house. Your home is still subject to the mortgage that is attached to it. If you are not making payments, and you do not plan on making payments, the mortgage company has a right and a claim to the house. If you are looking to wrap up any loose ends then you could deed your property to the mortgage company. The mortgage company does not have to approve or agree to the deed, you can have an attorney draft the deed and record it. Otherwise, the mortgage company will foreclose at some point and pursuant to your discharge, they will not be able to seek recourse against you - please note that you will receive the notices of foreclosure as they are required by law.
Answer Applies to: New Hampshire
Benson Law Firm | David Benson
You may be able to donate the property to a local land bank. Their purpose is to return vacant and abandoned property to productive use through such things as rehabilitation of imperiled structures, reclaiming and selling land to adjoining property owners, or converting private land into neighborhood parks or community gardens.
Answer Applies to: Ohio
The Orantes Law Firm | Giovanni Orantes
If you surrendered the home in the bankruptcy case through the Statement of Intention, all you own is a right to possession. Regardless of what you own, I can only advise you about this orally as the explanation is too long.
Answer Applies to: California