Can a gift of a house be given back after the grantor has died?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can a gift of a house be given back after the grantor has died?
My son and his wife were given his grandmother’s home right before she died, just a few days
before she died. They knew of the $8,000 first mortgage but only later found out about the $20,000 second mortgage.The house is very run down and now the bank is threatening to foreclose unless they the $20,000 is paid off immediately. My son wants to give back the
house. What should he do?
Asked on April 2, 2016 under Real Estate Law, Alabama
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
No, a gift, once accepted, cannot be given back unless the gift giver accepts it back voluntarily--she cannot be forced to take it back. And since the grandmother has passed, she cannot accept it back. Your son and his wife can most likely let the home be foreclosed upon without it affecting their credit, since they were not (presumably) parties to or signatories of the mortgage: that is, while the bank has the right to demand that the loan be paid in full when the borrower passes or they will foreclose, your son and his wife did not necessarily become liable for the loan, unless they signed something taking responsibility for it. If so, they should be able to let the bank foreclose and simply walk away from the home.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.