Ask Experts Questions for FREE Help !
Ask
    juliemiller2003's Avatar
    juliemiller2003 Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 3, 2010, 01:10 PM
    My dad passed away and his name was on the loan but both parents name was on the titl
    My father passed away and his home loan was in his name only. The title is in both parents names. Can they take the house from my mother? Or because he died does she automatically inherit the house?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
     
    #2

    Dec 3, 2010, 01:22 PM

    Two different questions here.

    1. Depending how the house was titled, it may belong completely to her now. Usually (but not always) when married couples buy a house the title is listed as "joint tenants with rights of survivorship," meaning that if one spouse dies the other gets that person's "share" of the house. However, if the house was titled as "tenants in common" then your father's share of the property passes to his heir(s) in accordance with his will.

    2. If your father's name was the only one on the mortgage then the bank can call the loan. Your mother then needs to either (a) take a loan in her name, or (b) use money she may have available - perhaps from life insurance proceeds - to pay off the mortgage so she owns the house free and clear, or (c) sell the house. But the bank won't just take it from her.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Parents names are on a home loan, is there anyway to add a child onto the loan? [ 1 Answers ]

Situation-Child wanted to buy a home, couldn't qualify, Parents put loan in their names--child is living in the home with their family 100% of the time making all payments; parents have other primary residence. Current Events-one parent has died, value of the home is now 1/2 what is owed on the...

My Dad passed away a few weeks back, [ 7 Answers ]

I' m in total shock that he's gone and now I'm questioning myself is he in heaven. He was a very good dad and person, I prayed every night looking for a sign to know he's at peace but still waiting or will I ever get a sign... I just really need to know he's looking down on us

Both my parents passed away in 2009. Neither one of them had a will. Where do I begin [ 3 Answers ]

Both of my parents passed away in 2009. Neither one of them had a will. They owned property and a house. My father also has a great amount of money in his 401k that is just sitting there. It is myself and my two younger sisters that are left with tons of questions. I Need to know where to begin...

My dad passed away [ 9 Answers ]

My dad passed away and I'm his only child and he was not married he received stamp collection from his mom when she passed away now who is in titled to his belongings?

Parents passed away left no will. [ 1 Answers ]

My mother and stepfather passed away. My mom was the last to passed away last April/08When they passed away they did not leave a will. There is a property (house) in question. This house is in Puerto Rico and we are 9 children all together... 5 from both parents and 2 from mom and 2 from stepdad....


View more questions Search