Posted by kelly on October 21, 2003 at 19:50:01:
Also keep in mind that the banks concern is payments ultimately. The key is does your transfer trigger the “due on sale” clause in the mortgage. If it doesn’t, the banks opinion doesn’t matter-the mortgage gives the payor certain rights and freedoms also.
I’d tell you to ask an attorney cause you may get an answer quickly and it may be accurate. But (depending on your state) if you can access the laws governing mortgages (in your local law library and occasionally on the internet) generally and if trust tranfers trigger the “due on sale” specifically, you should be able to find out on your own. It’s your time.