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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.
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∙ 10y ago
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What happens to a home if you are not on the loan but on the title-deed and the person on the loan dies?
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/
When the insured dies and a loan exists what happens?
Benefits are reduced
What happens if you cosign a loan and the other person dies?
yes
What happens if Seller dies after signing contract?
If a seller dies after signing a contract then the contract is terminated. In the case of real estate the property may go to the state, a bank, or the trustee of the will.
What happens if you are a borrower and the co-signer dies?
If the co-signer dies the surviving borrower is responsible for paying the loan.
What happens if co-signer of a student loan dies?
The other signer is responsible.
What happens if a co signor dies before the loan is paid?
The other signatory on the loan is now fully responsible for the debt.
What happens to loan with one parent if that parent dies?
Some institutes, if its a smaller loan will allow you to fax in a death ceterifercate.
What happens if seller dies who gets the house?
In the UK the seller is the owner of the house together with any mortgage lender, the proportion of ownership depends on the amount outstanding on the mortgage. If the seller dies then the 'estate' will own the sellers proportion of the house. The estate will pass on to the next of kin or anyone nominated in the sellers will.
If a 96 yr old mother co-signs a loan for you and she dies what happens?
They probably bury her.
What happens when a co signer dies and you stop paying on car loan?
bank takes back
What happens to a bank loan when a person dies?
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.
