Posted on: 27th Dec, 2007 10:38 am
My son is the Executor of his dad's estate who passed away. There was no Will. My son has been living in his Dads house and making the mortgage payments. How does he change the mortgage over to his name.
rita, i'm not sure you will be successful in this endeavor. the mortgagee is generally not going to be concerned about repayment inasmuch as payments are being made, and you can never actually change the signed mortgage note.
if your son wishes to demonstrate for credit purposes that he has been making payments, all he need do is to maintain records showing precisely that.
as for the legality of the process (probate, etc., if needed), i cannot comment. that, frankly, is a question for someone with a legal background.
if your son wishes to demonstrate for credit purposes that he has been making payments, all he need do is to maintain records showing precisely that.
as for the legality of the process (probate, etc., if needed), i cannot comment. that, frankly, is a question for someone with a legal background.
Hi Rita,
Welcome to the forum.
Sorry to hear about your husband.
I agree with George that it will be difficult to change the mortgage over to your husband's name.
As your husband has died intestate, the property will be distributed as per the laws of intestate succession applicable in your state.
Contact with an attorney. He will help you to transfer the ownership to your son's name.
Feel free to ask if you have any questions.
Best of luck,
Larry
Welcome to the forum.
Sorry to hear about your husband.
I agree with George that it will be difficult to change the mortgage over to your husband's name.
As your husband has died intestate, the property will be distributed as per the laws of intestate succession applicable in your state.
Contact with an attorney. He will help you to transfer the ownership to your son's name.
Feel free to ask if you have any questions.
Best of luck,
Larry
he cannot transfer the mortgage in his name if the title of the property is not transferred to him. lenders will not allow him to borrow if the ownership rights of the property is not with him.
so, he should first transfer the title of the property to his name. as larry has already mentioned, the property will be distributed according to the laws of intestacy of your state. that has to be done in order to refinance the mortgage in his name.
so, he should first transfer the title of the property to his name. as larry has already mentioned, the property will be distributed according to the laws of intestacy of your state. that has to be done in order to refinance the mortgage in his name.