Posted on: 31st Mar, 2010 04:51 pm
My question: there is a joint tenancy with right of survivorship document on a house in Georgia. Mom and son are the two parties listed on the document.
Mom passed away 5 years ago. Son is not a co-owner of the mortgage; never signed any mortgage paperwork, does not have the mortgage loan on his credit file.
Is the mortgage now the responsibility of the Son, even though it is not his; not on his credit file?
Thank you in advance!
Mom passed away 5 years ago. Son is not a co-owner of the mortgage; never signed any mortgage paperwork, does not have the mortgage loan on his credit file.
Is the mortgage now the responsibility of the Son, even though it is not his; not on his credit file?
Thank you in advance!
Hi amydandy!
Welcome to forums!
If the son's name is not mentioned on the mortgage deed, then he is not liable for the dues. However, after the mother's death, if the mortgage payments are not paid on time, then the lender will have the rights to foreclose the property in order to recover his dues. If the son wants to save the property, then he needs to pay the dues.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the son's name is not mentioned on the mortgage deed, then he is not liable for the dues. However, after the mother's death, if the mortgage payments are not paid on time, then the lender will have the rights to foreclose the property in order to recover his dues. If the son wants to save the property, then he needs to pay the dues.
Feel free to ask if you've further queries.
Sussane