Legal abbreviation meaning with husband.
Popular Real Estate Terms
Certificate usually granted by a jurisdictions building department certifying a specified premise has satisfactorily complied with all zoning and building ordinances. This certification is ...
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Two or more people have a legal duty that can be enforced against them by joint action, against all members, and against themselves as individuals. For example, a bank can require repayment ...
Also called functional depreciation. Loss of value that results from improvements that are inadequate, outdated, overly adequate, or improperly designed for today's needs. May be curable or ...
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Standard language in real estate contracts and prospectuses-usually in small print. ...
Stiff pipe used to cover electrical wiring for safety purposes. ...
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Comments for Et Con
My husband passed away and his name is on the deed with mine but not on the mortgage. Can his creditors come after me and take my house for his unpaid bills that are in his name only?
Sep 23, 2020 10:46:06Hey, Tina!
We are sorry about your loss. Unfortunately, in many cases when people pass away, the estate is everything that they own. After death, if there are any debts left on the behalf of the deceased the lenders have the right to get paid from the estate. There are multiple scenarios that can happen and most commonly the heirs, take over the loan. Heirs can also refinance the mortgage or if there is a reverse mortgage on the property, the heir will inherit the home after the reverse mortgage balance is paid. In all the mentioned situations the lender has to get paid for the remaining debt. Even if the mortgage is paid and there are other unpaid bills on behalf of the deceased, since the house is the only significant asset left behind, some states might require you to sell it in order to pay non-mortgage debts.
Sep 28, 2020 12:47:37Have a question or comment?
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