Q: If a property was jointly owned and one spouse dies, how does the remaining spouse get a reverse mortgage?
Does the executor of the will need to sign forms so the remaining spouse can get a reverse mortgage? Does this make the original will of the spouse that died first null? Does this mean that the heirs of the spouse that died first will not inherit after the property sale?
A: It they owned the property as joint tenants with right of survivorship, the property passed to the surviving spouse by operation of law. So no,, the executor has no say in the matter. The will is not void, but the property doesn't pass by the will. And yes, the heirs named in the will get no part of the proceeds. All of this assumes that a JTWROS is allowed in your jurisdiction; speak to an attorney there.
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