Q: Do I need to get a quit claim deed in order to assume a loan?
My husband recently passed while we were on a COVID assistance mortgage plan. For the last couple of months I have been trying to get off of the plan but the mortgage company will not let me without assuming the mortgage. You see my husband was the only one on the mortgage but we are both listed on the deed. They are making me go through hoops saying that I have to go through probate which I don't In PA since it is our only asset. Now they want me to send them a copy of the law that states that I do not need to go through probate in PA and then get a quit claim deed to remove my husband off of the deed. All of this to assume a mortgage so that I can get off a plan to assume mortgage payments. Any advice would be greatly appreciated.
A: Please accept my condolences for your loss. Perhaps an easier way to address this problem is to work around it. If you and your husband were both on the deed, that is a tenancy by the entireties which means that upon your husband's death, by the rule of survivorship, you became the sole owner of the property. No deed or probate is required for that. If possible, you might want to consider simply refinancing the mortgage so that the old mortgage is paid off and the new one is in your name. You will need to provide a death certificate to the new lender to document that your husband is deceased.
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