Legal abbreviation meaning with husband.
Popular Real Estate Terms
Provision in a lease agreement in which the lessee is given the right to buy the property at the end of lease term. In many cases, the option price is attractive to encourage acquisition. ...
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The real and personal assets of a person at the date of death. The distribution of the assets to the heirs depends on the provision of the will. If no will exists, the distribution is based ...
model depicting on paper what a structure physically looks like. The dimensions are draw on a proportionate basis to the real thing. An example is a scale of an existing or proposed office ...
Small one story frame house or cottage. ...
Relationship between individuals or entities whereby rights given to one are returned in kind to the other. An example is where one person has the right to use facilities of another with ...
Unregistered stock or bond that pays the holder dividends (if stock) or interest (if bonds) as well as the selling price when sold (if stock) or principal (if bonds are held to maturity). ...
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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