[GA] Can I use a warranty deed to take over my mother’s mortgage?
I'm in Georgia, and I want to take over the remaining balance of my mother's mortgage. Is a warranty deed appropriate?
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Yes, a warranty deed can be appropriate if your mother is transferring full ownership to you and you plan to refinance afterward. Here’s a breakdown:
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Warranty Deed – Common in Georgia, provides you with the most protection.
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Mortgage Issue – Most loans have a due-on-sale clause, meaning the lender could call the balance due after the transfer (GA Code § 44-14-5). That’s why refinancing quickly is key.
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Steps in Georgia:
- Prepare the deed (include legal description, names, addresses, granting clause, warranties).
- Sign before a notary + one witness.
- File with Fulton County Clerk and complete a PT-61 Transfer Tax Form.
- Notify the mortgage company.
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Considerations: Get title insurance, take over taxes, and switch insurance into your name.
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My mother has property in Union City, Georgia that she wants to give to me. There’s a remaining balance on the mortgage that I’d like to assume, but because of the type of loan, I can’t assume it. I was told I can transfer the deed to me through a warranty deed, then refinance the loan. Is the warranty deed the right form?
Lexi, Chatbot
Have you consulted with a real estate lawyer in Union City about transferring the property with a warranty deed?
No, I’m trying to do the form myself. Is that appropriate?
Lexi, Chatbot
Do you know if there are requirements or restrictions on assuming the loan?
I’m not assuming the loan—the lender won’t allow it. I just want my name on the deed so I can refinance.
Lexi, Chatbot
Is there anything else the lawyer should know?
No, that’s all.
Andres Sanchez
Hello, my name is Andres Sanchez, and I’m an attorney with 20 years of experience. Please give me a minute to review your question. How are you?
I’m great, thank you for taking the time to respond.
Andres Sanchez
Yes, a warranty deed can be appropriate if your mother is transferring full ownership to you and you plan to refinance afterward. Here’s a breakdown:
-
Warranty Deed – Common in Georgia, provides you with the most protection.
-
Mortgage Issue – Most loans have a due-on-sale clause, meaning the lender could call the balance due after the transfer (GA Code § 44-14-5). That’s why refinancing quickly is key.
-
Steps in Georgia:
- Prepare the deed (include legal description, names, addresses, granting clause, warranties).
- Sign before a notary + one witness.
- File with Fulton County Clerk and complete a PT-61 Transfer Tax Form.
- Notify the mortgage company.
-
Considerations: Get title insurance, take over taxes, and switch insurance into your name.
When I notify the mortgage company, what happens? Can I refinance through them or another bank?
Andres Sanchez
Good question. Here’s what usually happens:
- Notifying the lender: They’ll see the deed transfer and may trigger the due-on-sale clause. Some lenders are flexible, others require payoff in 30–60 days.
- Refinance with the same lender: Possible, but you’ll need to qualify like a new borrower. Ask them in advance if they’ll work with you.
- Refinance with a different bank: Absolutely an option—just apply as if you’re buying, using the recorded warranty deed to prove ownership.
- Timing: Get pre-approved for refinancing before recording the deed, then refinance quickly to avoid issues.
Got it. Thank you.
Andres Sanchez
You’re welcome. I hope everything works out for you.
Andres Sanchez
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