How can a father leave his mortgaged home to his son? 1 Answers as of September 27, 2016

My father wants to leave his home to me and have me assume payments. What are the challenges we will face now and after his passing? What do we need to do now?

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Goldsmith & Guymon
Goldsmith & Guymon | Dara Goldsmith
He should speak with an estate planning attorney and consider using a revocable trust. Issues at the meeting should include reviewing the promissory note and deed of trust to determine if is assumable, ,etc., as well as discussing a plan for the balance of his estate and handling of debts and other obligations. This is opinion is solely based upon the facts presented in the inquiry. Additional facts may be important and may change the analysis. If you are uncertain, seek legal counsel.
Answer Applies to: Nevada
Replied: 9/27/2016
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