Approval of a deed of novation to transfer a mortgage loan's obligations to a third party isn't guaranteed. In the case of a mortgage loan, the current borrower and the third party willing to assume the loan as well as the lender must all agree to novation of the loan. Lenders don't...
A beneficiary deed is a deed of conveyance that transfers the ownership of real property to a beneficiary in the event of the current owner's death. This type of deed conveys no interest in the property to the beneficiary while the current owner is alive. Advertisement A deed of novation di...