My Mother-in-law has the mortgage on a home but IS NOT ON THE DEED. If she dies what happens to the outstanding balance on the mortgage?

Get Legal Help Today

 Secured with SHA-256 Encryption

My Mother-in-law has the mortgage on a home but IS NOT ON THE DEED. If she dies what happens to the outstanding balance on the mortgage?

Mother-in-law is 80 years old she has a mortgage on her friend’s home but her friend has her home in a Illinois land trust and she is not on the deed at all. What happens to the rest of the mortgage if she dies? Are the people on the deed responsible for the rest of the mortgage? Their names are not on the mortgage at all just my mother-in-law.

Asked on June 25, 2009 under Real Estate Law, Minnesota

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Well, let's put it this way: your mother in law is responsible for a house she doesn't own.  Weird and wrong.  Why did this happen? Hiding assets? Hiding debts? Was this via a quit claim after the neighbor financed first? If so, and the mortgage company finds out, it may try to quiet title.  Bottom line, the note's security is the house. The company could most likely still place a lien at the very least on this house. 

For more information, try www.attorneypages.com and chekc his or her record at the Minnesota State Bar.


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