Home was gifted to me via Will.
An open home equity line of credit for ,000 is open on this home and payments are made monthly through estate.
Money in Estate will run dry long before H.E.L.O.C. is paid, but I can replenish estate with my own monies (approx 0 month) and am not very concerned with the loan.
I just want to know if I can put the home in my name prior to loan being paid off? Am guessing I would have to put the loan in my name first?
Thanks for any help, this is all new to me. I know I could go to an estate lawyer but am trying to handle all affairs I can without ringing up a large bill.
Is a "quit claim deed" all I need?
Must I change the loan to my name? Loan has very favorable terms (interest rate).
Canada Sux, Thanks for the answer! Can you explai a little bit about Warranty Deeds? Thx either way!