Legal Question in Wills and Trusts in New York

If both parents pass away and they still owe on their mortgage, but neither had a will, what should be done? All payments are up to date.


Asked on 3/31/17, 3:36 pm

2 Answers from Attorneys
David Slater David P. Slater, Esq.

The answer depends on whether the survivors want the house and want to pay the mortgage. If so, arrangements with the lender must be made.

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Answered on 3/31/17, 4:40 pm
Richard Bryan Richard Bryan Attorney PC

You have to pay the bank the outstanding amount of the loan one way or another. Either refinance the mortgage, or sell the house and pay off the loan.

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Answered on 4/01/17, 7:53 am


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