Legal Question in Wills and Trusts in California
Property
if a home is held in joint tenancy but the mortgage loan is only in one spouses name and that spouse dies does the living spouse retain the property? what happens to the loan?
Asked on 3/26/09, 1:52 pm
1 Answer from Attorneys
Chris Johnson
Christopher B. Johnson, Attorney at Law
Re: Property
The loan stays with the property, and the surviving spouse (if they're the remaining joint tenant on the deed) owns the property. The surviving spouse would just keep paying the payments as they come due, or refinance the loan if they'd like.
Answered on 3/26/09, 1:59 pm
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