Lewisville, TX asked in Estate Planning and Probate for Texas

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.

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2 Lawyer Answers
Terry Lynn Garrett
Terry Lynn Garrett
PREMIUM
Answered
  • Estate Planning Lawyer
  • Austin, TX
  • Licensed in Texas

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.

Nina Whitehurst
Nina Whitehurst
PREMIUM
Answered
  • Estate Planning Lawyer
  • Crossville, TN

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.

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