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Can a deed be transferred to administrator of estate when a mortgage exists?
Wiki User
∙ 13y ago
The estate must be probated. The property can be transferred with court approval but it is subject to the mortgage. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
The estate must be probated. The property can be transferred with court approval but it is subject to the mortgage. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
The estate must be probated. The property can be transferred with court approval but it is subject to the mortgage. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
The estate must be probated. The property can be transferred with court approval but it is subject to the mortgage. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoThe estate must be probated. The property can be transferred with court approval but it is subject to the mortgage. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
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What is PSI in Real Estate?
I think you mean "PMI" which is an acronym for Private Mortgage Insurance. It applies when more than 80% equity exists in the appraised value of a property. It results in higher interest rates and a higher mortgage payment.
What happens with a deceased family members tax refund?
The tax refund will have to be deposited into the Estate of the taxpayers account and used to pay debts of the estate. It will then be disbursed according to the taxpayers will or the laws of the State if no will exists. The Administrator or Executor of the Estate will need to sign the check and deposit it in the proper account.
What is the difference with primary market mortgage and secondary market mortgage?
The Primary Mortgage is that relationship that exists between a lender and a potential borrower. on the other hand, the Secondary Mortgage Market is the relationship that exists after the loan is closed and the lender markets the collateral of that loan for sale to an investor.
How long do you have to agree on a executor if no will exists?
If there is no will then there will be no executor. When a person dies intestate, or without a will, a qualified person must petition the probate court to be appointed the administrator of the estate. That should be done as soon as possible. You should seek the advice of an attorney who specializes in probate in your area.
How do you register car with no title or will when previous owner is dead?
You can not register a car that you do not own. The car is owned by the estate of the deceased individual. The estate gets the title and then you buy it from the estate. Some legal process must occur to distribute the estate of a person who has died. Usually, someone is legally named the executor of the estate and had authority to settle the estate in a manner consistent with a will, if one exists. If no will, exists, the executor still has the power to sell or give away the items owned by the deceased. Technically, it is the estate which owns the car, with or without a title. If you want to become the onwer of the car you must have it transferred by the estate. It is the estate (and the executor is the agent for the estate) who must acquire title to the car. With appropriate documentation, such as a certificate of death and legal documentation identifying the executor, the executor can request a new title from the State Bureau of Motor Vehicles. That title may be in the name of the deceased or in the name of the estate. The estate owns the car. Only after the estate has the title can the estate sell or gift the car to someone.
What growth is expected for real estate?
It depends on what kind of investment is used in real estate. There are many types of investment that currently exists or have been used in real estate.
In this physical estate only two elements on the periodic table exists?
Liquid
If an estate has been closed 42 years and it was discovered that property in the estate exists can that property be transferred to another entity?
If the estate was probated 42 years ago the title to the property would have passed to the heirs. An attorney will need to review the file and determine if the property passed under the will or as intestate property. The estates of any heirs who inherited an interest and died during the interim would need to be probated. An attorney should be able to determine what needs to be done so that you can convey good title. You should consult with an attorney who specializes in probate and real estate in your area.
How many square feet of corporate real estate exists in the US?
Approximately 9001 sq. feet.
What happens to the estate in Va. if there is no will?
The estate still exists and will be distributed per the intestacy laws of Virginia. The executor will file with the probate court and follow the courts direction.
What will happen if you tear a structure down with a mortgage?
You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.You would still be responsible for paying off the mortgage. It is likely that you will have breached your mortgage agreement. The lender may be able to demand immediate payment in full. If you fail to pay, the lender can take possession of the property by foreclosure. The lender could sue you for any deficiency that exists after the property is sold.
Can a trust exist where there is no trust deed?
A court can impose a trust on equitable grounds against someone who obtained property through wrongdoing. The wrongdoer is reduced to a trustee and the title is restored in the rightful owner. This is called a constructive trust. Generally, a trust exists by virtue of a document that sets forth the provisions of the trust, names the trustee(s) and adheres to the state requirements for a valid trust. That document is commonly called a Declaration of Trust. A trust exists independently whether it owns property or not. Any property that is to be held in trust by the trustee must be transferred to the trust. If that property is real estate, the owner must execute a deed that transfers title to the trustee of the trust. By doing so the owner is giving up ownership. If there is no deed to the trustee then the real estate is not part of the trust property. The deed to the trustee is referred to as a trust deed or deed of trust. When the property is transferred out of the trust by the trustee that deed is called a trustee's deed. In some jurisdictions a trust deed or deed of trust is the term used to describe a mortgage.
