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What happens if a property goes into foreclosure and the borrower is dead?
Wiki User
∙ 13y ago
The executor should be involved. As the estate they have to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Wiki User
∙ 13y ago
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Does a property deed override a will in new york?
A deed to a property specifies who owns the property. If the property belonged to someone who has died then the property (and the deed to it) become part of the dead persons estate. What happens to the estate is determined by the dead persons will. In view of this it is unclear what you mean by a property deed overriding a will - your question makes little sense.
If a person is dead can a bank foreclose?
Yes. They'll foreclosure against the estate.
Can a lender repo a car if the borrower dies?
Yes, if those who control the dead borrower's estate do not continue to make the payments. The lender has a lien on the car, no matter who owns it.
What happens if you have no will?
You would be dead...
What does it mean when you find a dead squirrel on your property?
It died there.
Can you sell dead saguaro from my property?
No, that is no my line of business.
Can you rent property in red dead redemtion?
Yes, you can.
What happens your hamster is still?
It is dead :)
What happens if a star is dead?
It is not existing
What happens if you did not have the red cross?
then you are dead.
What happens to dead cats?
they decompose.
How can you get a date of your foreclosure?
you will receive a letter from the attorney who has been appointed to handle the foreclosure of your particular property. This is a -to heck with you -- we have tried to resolve letter, kind of a referred to as a drop dead letter This letter will tell you that your property has been added to the public notices file and will be publicised in the local and state newspapers in an attempt to sell and recover any loses for the bank who issued the loan for the mortgage. This letter will also let you know that your property is up for public auction on the courthouse steps on a certain date -- on this date you can attend the auction and may even recover the property-- by bidding on it and purchasing it with outright cash-- The full bidding amount will be needed here and no loans are issued for this auctioned purchase. about 8 years ago this foreclosure process would take up to 6 month before anyone had to move out of the house but today in 2010-- the process has become rampant and many situations are handled with speed and many former owners usually have about 3 months to move out from the date of their first notice received.
