What to do if my husband passed away and the mortgage is in his name only?

Get Legal Help Today

 Secured with SHA-256 Encryption

What to do if my husband passed away and the mortgage is in his name only?

My husband passed away about 3 weeks ago. We have a house but the mortgage is in his name only and I do not think it has a transfer upon death title. I am worried that I will loose the house once the mortgage company is informed of his passing. I have 2 children under the age of 18 and I don’t think they could handle loosing their father and the only home they have ever known in such a short time. I have made the mortgage payment and plan to continue to do so. I’m am just scared that I will loose not only my husband but my home.

Asked on March 10, 2016 under Real Estate Law, Ohio

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Typically, when a mortgaged property changes ownership, the mortgage lender has the right to demand full payment of the loan balance. This is due to "due on sale" clauses that allow the lender to call a mortgage in if the home changes hands. However, the law is different when a mortgaged home is inherited by a family member. In such a case, the person who inherits gets both the property and the loan. Consequently, the lender can't call the loan due as long the monthly payments are made. Additionally, relatives inheriting mortgaged homes can also assume the mortgages if they intend to live in the home.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption