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Can a mortgage be in a will?
Yes. For clarification, the person who is owed the money in a mortgage transaction is the mortgagee and the mortgagee owns the mortgage. If the mortgagee dies the mortgage is included in their estate as personal property. The mortgagee can make provisions in their will regarding a mortgage they own. The balance on the debt due can be inherited by their heirs or the mortgagee can forgive the mortgage in their will. If there is no will then all the rights under the mortgage pass to the heirs at law under the state laws of intestacy when the decedent's estate is probated.Yes. For clarification, the person who is owed the money in a mortgage transaction is the mortgagee and the mortgagee owns the mortgage. If the mortgagee dies the mortgage is included in their estate as personal property. The mortgagee can make provisions in their will regarding a mortgage they own. The balance on the debt due can be inherited by their heirs or the mortgagee can forgive the mortgage in their will. If there is no will then all the rights under the mortgage pass to the heirs at law under the state laws of intestacy when the decedent's estate is probated.Yes. For clarification, the person who is owed the money in a mortgage transaction is the mortgagee and the mortgagee owns the mortgage. If the mortgagee dies the mortgage is included in their estate as personal property. The mortgagee can make provisions in their will regarding a mortgage they own. The balance on the debt due can be inherited by their heirs or the mortgagee can forgive the mortgage in their will. If there is no will then all the rights under the mortgage pass to the heirs at law under the state laws of intestacy when the decedent's estate is probated.Yes. For clarification, the person who is owed the money in a mortgage transaction is the mortgagee and the mortgagee owns the mortgage. If the mortgagee dies the mortgage is included in their estate as personal property. The mortgagee can make provisions in their will regarding a mortgage they own. The balance on the debt due can be inherited by their heirs or the mortgagee can forgive the mortgage in their will. If there is no will then all the rights under the mortgage pass to the heirs at law under the state laws of intestacy when the decedent's estate is probated.
What is mortgagee clause for Comerica?
A mortgagee clause in a Comerica mortgage typically outlines the rights and responsibilities of the lender (mortgagee) regarding the property secured by the mortgage. It ensures that the lender's interest is protected, especially in cases of property damage or loss, by requiring insurance policies to include the lender as a loss payee. This clause also stipulates the procedures to follow if the property is damaged, ensuring that insurance proceeds are directed to the lender to cover the outstanding mortgage balance.
What are the legal rights and responsibilities of individuals in a legally recognized domestic partnership?
Legal rights and responsibilities of individuals in a domestic partnership include shared property rights, healthcare decision-making, inheritance rights, and responsibilities such as financial support and mutual care.
What are the basic responsibilities of government?
the basic responsibilities are to protect your rights to life, liberty, and property, and to promote the common good.
When you buy a house and have a private mortgage can the seller sell the mortgage and change it?
I assume the private mortgage was granted to the seller who became the mortgagee. Yes, the mortgagee can sell her rights under the mortgage but she cannot change its terms without the written consent of the mortgagor.I assume the private mortgage was granted to the seller who became the mortgagee. Yes, the mortgagee can sell her rights under the mortgage but she cannot change its terms without the written consent of the mortgagor.I assume the private mortgage was granted to the seller who became the mortgagee. Yes, the mortgagee can sell her rights under the mortgage but she cannot change its terms without the written consent of the mortgagor.I assume the private mortgage was granted to the seller who became the mortgagee. Yes, the mortgagee can sell her rights under the mortgage but she cannot change its terms without the written consent of the mortgagor.
What rights does a second mortgage holder have if owner defaults on his loan?
The second mortgagee can foreclose and take possession of the property. However, it would take possession subject to the first mortgage.
What is the difference between ownership and possession, and how does it impact one's rights and responsibilities in terms of property?
Ownership refers to having legal rights and control over a property, while possession refers to physically having control or custody of the property. Ownership grants the owner the right to use, sell, or transfer the property, while possession gives the possessor the right to physically occupy or use the property. The distinction between ownership and possession impacts one's rights and responsibilities in terms of property because the owner has legal authority over the property, while the possessor may have limited rights and responsibilities depending on the terms of their possession.
What rights does the second mortgage holder have if the first mortgage payments are up to date?
If the second mortgage is in default the second mortgagee can foreclose and take possession of the property subject to the first mortgage.
Is it possible to purchase air rights in a real estate transaction?
Yes, it is possible to purchase air rights in a real estate transaction. Air rights refer to the legal right to use the space above a property, allowing for the construction of buildings or other structures. These rights can be bought and sold separately from the land itself.
What are the legal rights and responsibilities of individuals entering into a heterosexual civil partnership?
In a heterosexual civil partnership, individuals have legal rights such as inheritance, property rights, and next-of-kin status. They also have responsibilities like financial support and decision-making for each other.
Are rights and responsibilities recognized as agents by society?
rights and responsibilities
What are the legal rights and responsibilities associated with the object in law?
Legal rights and responsibilities associated with an object in law refer to the ownership, use, and obligations related to that object. This includes the right to possess, transfer, and protect the object, as well as the responsibility to not misuse or harm others with it. These rights and responsibilities are defined by laws and regulations that govern property ownership and usage.
