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My wife and I of 17 years obtained a loan on our house approx. 2 yrs. ago. My wife obtained the loan solely in her name due to her great credit score. We owned a business together and she was co-owner w/ me. On the deed we are listed as JOINT TENANTS but on the loan it is just her. She unfortunately passed away and now I am battling with my mortgage company over "Do I have to go to probate or not?" It is my understanding that in the case of a death the joint tenant of the deed assumes all real property including real estate and the mortgage company can't withhold the joint tenant from assuming the loan. Correct?

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi DJ.

Welcome to the forum. You will get your wife's share of the property as you are the joint tenants but you need to refinance the mortgage on your name. Otherwise the lender can sell the property to get their outstanding balance of the loan. Feel free to ask if you have any further questions.

Best of luck,
Larry

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