Can I transfer my house to the Trust if I have a mortgage?

It is usually not a problem to transfer a house to your Trust, even if there is a mortgage.

This is usually the case, even if your mortgage has a due-on-sale clause saying the mortgage becomes due if you transfer the ownership. Most transfers to Trust are exempted/ There are some limitations, like it must be residential property of five units or less and the trust must be your trust and give you the right to occupy the property.

It's always a good idea to contact your mortgage company or lender in advance to get written confirmation that the transfer won't violate any terms of the mortgage or deed of Trust.

Was this article helpful?
7 out of 10 found this helpful