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can i short sale my home to my daughter in PA

1 Answers. Asked on Mar 27th, 2017 on Real Estate - Pennsylvania
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Answered on Mar 27th, 2017 at 8:43 AM

You can short sale you property to anyone.  Unless your daughter is willing to accept the property subject to the mortgage (and any current default in the mortgage) you should seek the lender's permission to sell the property.  Selling the property without that approval would constitute a technical default in the mortgage.  It also does not relieve you of your obligation to pay the loan off. 

I recommend that you seek out a local attorney for a more in depth discussion of the matter. I do not recommend that you take any action steps without such a consult. Act quickly because by waiting, you may lose certain rights and remedies available to you.

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Real Estate
Real estate attorneys can help individuals, families and small business with all property-related legal issues. Buyers and sellers of residential and commercial real estate should work with an attorney to negotiate the terms of agreement; draft and review the contract; review related paperwork (such as loan agreements); clear existing liens on a property; and attend the closing. Lawyers can also assist property owners with addressing zoning/rezoning issues and appealing property tax assessment. Landlords and tenants should work with real estate law firms to draft and review lease agreement, handle eviction proceedings and resolve landlord-tenant disputes.
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