Legal Question in Real Estate Law in Indiana

Re: Deed in one name - loan in deceased name

I recommend you take your papers -- mortgage, mortgage note, deeds, court orders, etc. -- to a live attorney, since there are many considerations. Call your county bar association for a referral to someone experienced in real estate law. I can say a few things. First, many mortgage notes have an acceleration clause in the event of death, sale or other transfer. If such a clause exists in your deceased ex-husband's note, then the mortgage company would be entitled to demand payment of the entire balance, and if the entire balance is not paid, then they can foreclose. They won't be able to collect a deficiency judgment against anyone (including you), since the note holder has been dead more than nine months. However, the interest rate on this loan is probably higher than the mortgage company could receive on a new mortgage, so as long as you keep the payments current, I imagine they will go along with a "don't ask, don't tell" policy. So, don't tell.