Chambersburg, PA asked in Probate for Pennsylvania

Q: If you inherit property through a person's will, can the finance company holding the note refuse to give you information

The finance company has been repeatedly sent a copy of the will, a death certificate and a short certificate and refuses to give any information to the executor, named in the will, or the person who inherited the property.

Related Topics:
2 Lawyer Answers
Michael Cherewka
Michael Cherewka
Answered
  • Probate Lawyer
  • Wormleysburg, PA
  • Licensed in Pennsylvania

A: Difficult to give a complete answer without seeing all the documents, etc., but in general, once the Will has been probated and the Executor is issued a Short Certificate, a financial institution that has a loan with decedent and a mortgage or other lien on decedent's property is obligated to provide information to and work with the Executor. The Executor will need to review the Note to determine if there is a due on death clause (in which case the Executor will need a payoff figure from the financial institution) or if the Note can be assumed by you (if you are named under a Specific Bequest and the Executor is not directed to pay off the Note prior to transferring the property to you). Executor will also need to determine if the original financial institution still holds the Note or if they sold it, in which case that may be reason not getting a response.

1 user found this answer helpful

Nina Whitehurst
Nina Whitehurst
PREMIUM
Answered
  • Probate Lawyer
  • Crossville, TN

A: If it is a federally regulated lender, no, they cannot refuse to provide information to you once you have proven to them that you are the successor in interest. Tell them to take a look at 12 C.F.R. sections 1024.31 through 1024.39.

1 user found this answer helpful

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.