If a person dies and has a mortgage on their property, what happens to the mortgage?

Mother passed away and had a Will. She left house to her 5 adult children. Now, 3 of them want to continue living in the house and can pay the mortgage. None of them are not able to get a mortgage. Will bank force them to get out?

Asked on July 30, 2012 under Real Estate Law, New Jersey

Answers:

John Ducey / Law Offices of John G. Ducey,PC

Answered 8 years ago | Contributor

What do the other 2 think?  If they want their money for the house the 3 will have to buy them out.  Are there enough other assets to pay off the mortgage?  Was there life insurance to cover the mortgage?

 

John Ducey

732-458-5600


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