The mortgages do not die with him. You are entitled to inherit the house, subject to the mortgages. Open an estate and have the court appoint you as executor. You can then deal with the bank on settling the mortgage, either by selling the property and paying off the mortgage, or setting up a new mortgage with the name of the inheritor. Consult a probate attorney in your state for help in getting it settled.
That will depend on the laws in that jurisdiction. Many states require a spouse to have an interest in all real property owned during the marriage.
Albert L. Partridge has written: 'Deeds, mortgages, and easements' -- subject- s -: Mortgages, Deeds, Servitudes
No, you are still entitled to all of your property unless the court says otherwise.
Charges made for the recording, registering, and transfer of documents such as mortgages and deeds are called recording fees.
Charges made for the recording, registering, and transfer of documents such as mortgages and deeds are called recording fees.
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The Stamp act.
No. Registries of Deeds are land registries whose purpose is to document the ownership of real property.No. Registries of Deeds are land registries whose purpose is to document the ownership of real property.No. Registries of Deeds are land registries whose purpose is to document the ownership of real property.No. Registries of Deeds are land registries whose purpose is to document the ownership of real property.
Deeds should always be drafted by a professional unless you are fully informed and understand the consequences of the transfer and the tenancy that will be created in the new deed. Errors made by non-professionals in drafting deeds can be expensive to correct if they can be corrected. An error might not be discovered until the property is sold. In many cases of deed errors, the original grantor is deceased at that time and the corrections can be complicated and expensive.You should also keep in mind that mortgages have clauses that any transfer of interest can trigger a demand for payment in full.
Writing legal deeds for your children is not a very complicated process. You, the grantor must write it stating what it is you are leaving to the grantee (your child) and fill it with your local branch of the Records of Deeds.
The one who was awarded all interest in the real estate is the rightful owner. The spouse who is still on a loan, however, is still on the hook for the mortgage, or mortgages. Most decrees will specify that the awarded spouse is to refiance to remove the other spouses' name, but as far as ownership goes, that Decree passes ownership. Some states require a separate deed be filed or the decree to be recorded in the register of deeds office, and until that is done, the other spouse still has interest. It depends on where you live. It is wise to execute a Quit Claim deed removing the ex-spouse from title. They cannot be removed from the mortgages. Those mortgage should be refinanced immediately. A copy of the quit claim deed is all the agent needs to remove them as a payee on the homeowner's policy
The Complaint 1. Deed or other document granting you the property from whomever you purchased it; 2. All recorded documents thereafter, including: a. Mortgages b. Assignments of Mortgages c. Trust Deeds d. Substitution of Trustees