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Can a lender legally foreclose on a property that is owned by a deceased person (not in probate yet)

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parklynmt Joined: 04 Feb 2009 Posts: 1 1.00 Dollars($)	Posted: Wed Feb 04, 2009 2:20 pm    Post subject: Can a lender legally foreclose on a property that is owned b Like 0 Dislike 0 Can a lender legally foreclose on a property that is owned by a deceased person (not in probate yet)...Property owner passed away in 2008 - the estate has not gone through probate - lender foreclosed on property in January 2009 - went to auction Jan 6 - no offers on the house - went back to lender - lender is saying they now own the house and will be getting house ready to sell - Is that legal? Deceased person does have a will and family has hired attorney to start probate - in state of Texas probabte is not mandatory.
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Thu Feb 05, 2009 12:30 am    Post subject: Like 0 Dislike 0 Hi parklynmt, The lender can foreclose on a property even though it may be included in the estate of a deceased person. The lender has the right to foreclose with respect to the terms and conditions stated on the mortgage note. I think it is legal even though there's a Will. Just like the terms and conditions of the Will, it is important to fulfill the responsibility of the mortgage. If the lender forecloses, then the property will be excluded from the probate estate. Thanks

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