transferring a mortgage from parent to child

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Avoiding Foreclosure: Can Someone Else Assume (Take Over) the. – a transfer from a parent to child; a transfer to a relative upon the borrower’s death; a transfer between spouses, and;. If a borrower is behind in mortgage payments and facing foreclosure at the time of the transfer, then the person who is assuming the mortgage will have to cure the.

What Are the Consequences of a Parent Deeding Property to a. – What Are the Consequences of a Parent Deeding Property to a Child?. If the parents transfer the property during the parents’ lifetime without remaining on the title as a joint owner, then the children receive the property with the same tax basis that the parents had in the property.