Posted on: 15th Sep, 2010 07:20 pm
HELLO,
Hello,
If a parent dies, with no will, after you get "executorship" of the estate for disclosure,
1 How do you find out if there are mortgages/liens on the house?
2 If there are mortgages, what happens next?
3 Do second mortgages have "death insurance" clauses?
Hello,
If a parent dies, with no will, after you get "executorship" of the estate for disclosure,
1 How do you find out if there are mortgages/liens on the house?
2 If there are mortgages, what happens next?
3 Do second mortgages have "death insurance" clauses?
Hi JOAN,
You can contact your local county clerk's office in order to find out if there are mortgage or liens on the property. Alternatively, you can even contact a title search company for the information. If there is a mortgage on the property, then the estate can pay it off. It will depend upon the lender whether or not they'll include a death insurance clause in the mortgage docs.
You can contact your local county clerk's office in order to find out if there are mortgage or liens on the property. Alternatively, you can even contact a title search company for the information. If there is a mortgage on the property, then the estate can pay it off. It will depend upon the lender whether or not they'll include a death insurance clause in the mortgage docs.