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Can you get a bank loan on a property willed to you to pay for deceased funeral?
Wiki User
∙ 11y ago
It will depend on the lending institution and if they would be willing to take a risk. Normally lending institutions insist that you hold title to any property you wish to borrow again. If the person is still alive that may leave you the property, then it would be unlikely that you would be able to secure borrowing against the property, as Wills can be changed at any time. Even after death a Will needs to be legally ratified.
Wiki User
∙ 11y ago
Yes, you can get a bank loan on a property willed to you to pay for a deceased person's funeral expenses. The property can serve as collateral for the loan, but you would need to meet the bank's loan requirements and undergo the necessary approval process. It's important to consider the terms of the loan and your ability to repay it before proceeding.
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What is condidered an estate in a will?
An estate in a will typically refers to all the assets and liabilities that a person owns at the time of their death. This can include property, investments, bank accounts, personal belongings, and debts. The estate is distributed according to the instructions set out in the will.
Does an heir have the right to see bank statements of the deceased?
It depends on the laws of the jurisdiction and the specific terms of any relevant estate documents. Generally, an heir may have the right to access the deceased's bank statements if they are appointed as the executor of the estate or if they are entitled to information related to their inheritance. It's advisable to seek legal advice to understand the specific rights in the given situation.
What is the law broken if you rob a bank?
Robbing a bank is considered a criminal offense known as bank robbery. It involves theft of money or property from a bank through force, violence, or intimidation. This is a serious crime that is prosecuted at both the state and federal levels.
Can I serve a writ of garnishment to a bank?
Yes, you can serve a writ of garnishment to a bank in order to collect on a debt owed to you. The bank will then freeze the debtor's assets in the account up to the amount owed. It's important to follow the legal procedures and requirements for serving a writ of garnishment.
Does a GA Bank have to have an original copy of the recorded deed?
In Georgia, a bank typically needs the original recorded deed to ensure that the property is properly transferred and that they have a valid security interest. Having the original document provides proof of ownership rights and protects the bank's interests in case of any disputes or legal issues. It is important for the bank to have the original copy for their records and legal compliance.
Are bank accounts or CD accounts of a deceased person considered personal property?
Yes, bank accounts are personal property.
What if deceased parent's home mortgage is more than the property can be sold for?
The bank will take possession of the property by foreclosure. If the mortgage is in the deceased parent's name it will not affect anyone's credit.
Who is resposible for the loan if the title is in the deceased name only?
The estate is responsible for the loan. If it is not paid the bank will take the property.
Can heir property be taken for delinquent child support?
In general, no. However, there might be a lien on the deceased obligor's real or personal property (including bank accounts).
Does the bank still collect from a deceased co signers estate if the property was sold?
The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.
Can a frozen bank account be used for funeral expenses?
A court will need to lift the "freeze" order before funds can be removed from the attached account. If the account belonged to the deceased the probate court has jurisdiction, in which case funeral expenses will be paid from the estate of the deceased. If the account does not belong to the deceased it is unlikely that a request for release will be granted unless the requester can provide documentation that there is no other means to obtain burial funds.
How can a bank foreclose on a deceased person?
A bank can not foreclose on a deceased person. A bank forecloses on a piece of property when the mortgage has not been paid. There is a difference. If the deceased person had the money in the bank to pay the mortgage and the will is in probate, someone should tell the probate judge about the situation. In this state the probate judge has the authority to pay the mortgage. He also has the authority to make the car payment. The probate judge will not do anything unless someone tells him!
Which colour links sea a funeral and bank balance?
the word is black, Black Sea, black funeral, black bank balance
Who is responsible for payments when creditor deceased?
Normally this would fall to the Executor of the Deceased Estate. It is the responsibility of the Executor, to collect all payments and settle all debts of the Deceased. the deceased person's husband or wife.....if they weren't married then the property that the loan is for gets returned to the bank, which technically still owns it because the loan wasn't fully repaid.
Who is responsible for a deceased parent's bank loans?
The parent's estate is responsible for the loans. If there are no cash assets to pay the loans the lenders will take the property such as real estate or a vehicle.
How to get a mortgage on property willed to you?
Go to a bank and apply for a loan. They will run a credit check and determine whether or not to give you a loan on the house. You might also consider a reverse mortgage, that gives you some money each month.
Can the executrix write checks from the deceaseds bank account in order to pay the funeral home utilities on the deceased property etc?
It is improper and maybe even illegal for her to do this. She needs to open up an estate account to put all monies in and then provide a meticulous accounting for any monies spent. If she doesn't do this correctly she could face legal penalties or charges.
