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.
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/
Benefits are reduced
yes
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.
If you cosign a loan and the other person dies, you may become responsible for repaying the loan in full. It is important to carefully consider the risks before agreeing to cosign a loan.
If the co-signer dies the surviving borrower is responsible for paying the loan.
If a parent with a Parent PLUS loan dies, the loan may be discharged, meaning the remaining balance may be forgiven.
The other signer is responsible.
If a parent who has taken out a Parent PLUS loan dies, the loan may be discharged, meaning the remaining balance may be forgiven and the responsibility for repayment may be eliminated.
Some institutes, if its a smaller loan will allow you to fax in a death ceterifercate.
The other signatory on the loan is now fully responsible for the debt.
When a parent with a Parent PLUS loan dies, the loan is typically discharged, meaning the remaining balance is forgiven and the responsibility for repayment is lifted.