Q: Is there a way to be added to a home loan if the descendant left no will? Is there a way to achieve the below?
My grandmother passed away without a will and left behind a refinance on a mortgage. My uncles and aunts would like to be added to the loan to avoid anyone being able to sale the home w/o the other's consent.
A: The lender must decide whether to, in essence, extend a loan to your uncle and aunt based on their credit, not your grandmother's. Please keep in mind that a lender is barred from foreclosing for six months after a court appoints an executor (if there is a Will) or administrator (if there is not). This will give your uncle and aunt time to contact the lender. If they are successful, they must buy out anyone else to whom the house would pass. If not, the executor or administrator can sell the house to repay the lender.
A: There is no requirement that somebody must assume the loan. As long as the payments keep being made the lender cannot foreclose. As far as preventing sale, nobody will be able to sell the property, as a practical matter, while the property is still in your grandmother’s name. After it is transferred into the names of her intestate heirs, the signatures of all of them will be needed to sell the property.
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.
