Legal Question in Real Estate Law in North Carolina

When you pass away, your property will transfer to whoever is named in your will. If you don't have a will, it will transfer via the NC intestacy statutes. If there is a mortgage on the property, the new owner MAY be able to continue to pay it, or they MAY have to refinance - it depends. These days, I don't see too many mortgage companies who complain as long as payments are being made. Some mortgage companies will never realize you have passed away. Some will allow the new owner to continue to make payment with no further action. Some will require the new owner to enter into a new loan agreement with them. Some will call the loan due and make them refinance. Your best bet would be to consult an estate attorney to help you plan for the future.