Posted on: 21st Apr, 2009 01:23 pm
i bought 4 rentals with my father. he and i are both signers on the mortgage. he signed a quit claim deed over to me. i am the only one on the deed. he died in december of 2008 and i am told the estate can not settle unless i refinance. there is no due on death clause in the note. does the estate have to pay off the loan? i thought after 6 months after death if the bank does not call the loan in then just i am responsible and do not have to refinance. i have no intention of refinancing.
You should speak with an attorney who specializes in estate settlements.