Can you file a quit claim deed on a property that has a reverse mortgage?

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My home has a reverse mortgage .I would like to quit claim my home to my son. Is this possible?

Attorney Answer

1
Andrew Myers ·
No, you can't do anything to the deed to that property without the consent of the mortgage company. One of the terms of the reverse mortgage makes this clear. Contact the mortgage company, or have an attorney contact the mortgage company on your behalf, before you think about doing anything with that deed. At the very least, your son will need to be prepared to refinance that property. This answer is offered for informational purposes only. It is not offered as, and does not constitute, legal advice. Laws vary widely from state to state. You should rely only on the advice given to you during a personal consultation by a local attorney who is thoroughly familiar with state laws and the area of practice in which your concern lies.
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