Legal Question in Real Estate Law in Missouri
Home mortgaga papers
I have discovered that when my wife and I refinanced our home that my wife was not listed on the loan papers. According to city records she is still on the deed. Where does this leave her when I die?
Asked on 3/10/09, 9:24 pm
1 Answer from Attorneys
Michael R. Nack
Michael R. Nack, Attorney at Law
Re: Home mortgaga papers
If you own the home as tenants by the entirities and you die first, then your wife will own the home. She will need to make arrangements concerning the financing. Many people in your situation buy enough life insrance to provide enough money for her to simply pay off any balance on the mortgage from the life insurance proceeds.
Answered on 3/11/09, 11:12 pm