If the loan is secured, then the collateral is returned to the bank. If the loan is unsecured, like a credit card, then the bank submits the balance to the estate of the deceased.
what happens if your husband dies and i am on deed,but not on loan.am i responsible for the loan and do i keep the house/
yes
bank takes back
If the bank holds the loan, then yes. If the payments are stopped, the bank will repossess anyways.
borrower dies then it is not suitable that amount recovered from gaunter because of person taking guaranty of live person nor death
what happens if your husband dies and i am on deed,but not on loan.am i responsible for the loan and do i keep the house/
yes
bank takes back
If the bank holds the loan, then yes. If the payments are stopped, the bank will repossess anyways.
If a seller dies, a loan might still be owed by the family of the person that died. In some cases, the loan would be forgiven if the seller died or passed away.
The estate has to settle the title. The secondary person can be held responsible for the loan until it is resolved.
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borrower dies then it is not suitable that amount recovered from gaunter because of person taking guaranty of live person nor death
Benefits are reduced
Yes, a bank can take property that they have no interest in. This usually happens when a person has not paid their loan, and now has no right to the property.
the asset which is kept as morgage with the bank at the time of taking loan is taken away by the bank
Bad loan is a loan that can't be recovered. As a old person which has a loany ac andby chance he dies that loan can't be payed by his family member because of absence of nominee. Same happens with vechile,hoam loan etc