Q: Both parents recently deceased, my name is on the mortgage, and I want to sell. Do I have to refinance the mortgage...

A: If you intend to sell the property immediately, it should not be necessary to refinance the property before you do so. The more significant issue may be whether you have the authority to do so at this point, which depends upon the deed.

There are three ways to own real property that are indicated on the deed. Married couples can own property as Tenants-by-the-Entirety that gives each spouse an undivided interest in the property and right of survivorship.

Another form of ownership, Joint-Tenants with Right of Survivorship, is available to owners of property that are not married to each other and provides similar right of survivorship. Unless otherwise indicated on the deed, property owners are assumed to own property as Tenants-in-Common, which provides no right of survivorship so that if an owner dies his/her interest passes through his/her estate instead of reverting to the other owner.

Unless the deed indicates a form of ownership that granted you the right of survivorship, you may need to probate the estates of your parents before having the authority to transfer ownership of the entire property through a sale.

A: No. But you will need to form an estate to have title to sell.

A: The question is whether you have legal authority to sell. You said you are on the mortgage but you did not say if you are on the title (the deed). The short answer to your direct question is, the mortgage does not need to be refinanced in order to sell the property. On the contrary – the mortgage will be paid off at the sale closing. The issue is whether you need to commence a probate or estate administration proceeding in order to obtain legal authority to sell.