What Are The Requirements Or Rules In Selling Mortgage Property In Case Of Mortgagor's Death?
Way back 2001 a real property was mortgage to me for one year only but the mortgagor/owner ( husband wife) ask for extension. Unfortunately, after 5 years they died without repaying the mortgage property. Now the children's want to sell the property so they could pay me. What are the steps or requirements i have to complete so i could sell the property?
Guest
asked 2 years ago
1 Answer - Sort by: Date | Rating
I am somewhat confused by your question...why do "you" want to sell the property? Unless you foreclosed upon said property for non-payment, the property is not "yours" to sell. Providing the property was given to the children via probate or some other action, the children of the descendant's property now own said property and have every right to sell the property and pay the mortgagee, (you) in full. I hope this explanation helps to answer your question. Good luck to you.
0
0
- If You Are On The Deed Of A Property, But Not On The Note, And The Property Goes Into Foreclosure, Would The Bank That Took The Property Back From The Note Holder Have To Buy Out The Other Person Who Is Still On The Deed But Was Not Part Of The Note?
- How Can I Get Rid Of A Bee In My House?
- What Is Primary Mortgage?
- Does A Deed Holder Loose Rights If They Are Not On The Note, However, They Are On The Deed?
- Does The Person On A Deed Have Any Rights With Propert That Went Into Forclosure? Two People On A Deed, Only One Was On The Note To The Bank. Does The Other Deed Holder Who Was Not On The Note And Did Not Default Have Any Legal Rights On The Propert
- Can I See My House?
- Where To Find Foreclosures?
- What Does A Deed Reference Mean?
- What Is Mortgage Payable?
- What If I Have No Life Insurance To Pay The Mortgage?
- What Is Joint Deed Of Undertaking?
- How Much Time For Mortgage Fraud First Time?
- What Is Underwriter?
- Who Is Underwriter?
- Can I Get Mortgage If I Get Benefits?
- How Can Found Out If My House Is In A Foreclosure?
- What Is A Semidetached House?
- If You Are Aware That A Mortgage Co. Is Stealing Your Money And Trying To Collect On Fees That Do Not Apply To You. Who Can You Contact?
- What's A House?
- What Happens To The Livivg People After A Flood?
- What Are The Rules Of Equity?
- Sorry, Posted Before I Was Finished, Anyway The New Mortgage Is In My Name With Husband As Co-signer, Signed A New Form For Deed Of Trust Showing Both Names But Everything Including Tax Documents Are Still In His Name Only. Can I Get This Changed?
- How Do I Get My Girl Friend Out Of The House If Both Names Are On The Deed But Only Mine On The Mortgage?
- Refinanced Why Is My Name Not On Deed?
- What Happens To A Reverse Mortgage If Your Home Is Destroyed By An Earthquake?
- When Selling A Property With A Tax Lien, Does The Mortgage Get Satisfied First Or The Tax Lien?
- Is There A Way To Get Out Of A Mortgage Contract Without Foreclosing Or Selling?
- What Are The Safety Tips/emergency Rules To Follow In Case Of Fire?
- How Can People Mortgage Their Property?
- How Do I Find Out If A Property Has A Mortgage?
Featured Question
- Business & Finance
- Personal Finance
- 401k
- Bank Accounts
- Bank Charges
- Bankruptcy
- Benefits
- Child Trust Fund
- Credit Cards
- Credit Unions
- Death Duty
- Debt
- Estate Planning
- Family Benefit
- Fraud
- IVA
- Income Tax
- Inheritance Tax
- Interest Rates
- Loans
- Money Software
- Mortgages
- Payday Loans
- Philanthropy
- Pocket Money
- Remortgages
- Stamp Duty
- Stimulus Checks
- Tax
- Tax Credit
- Transfer Money
New Comment - Comments are editable for 5 min.