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Father passed away and I have rights of survivorship. Bank wants to take home. Help!!

Concord, NC |

My ill father listed me as the joint tenant with rights of survivorship on the deed of his home so that i may care for him.He was the only person listed on the mortgage though I was making all the payments. He passed away unexpectedly and though I am told, that I own the home 100%, the bank is telling me because the loan was in his name only, I risk losing the home and will be foreclosed on. Is this correct? I was under the impression, I would resume his loan payments. This is adding more stress and now I risk being homeless with my kids.

Attorney Answers 2


If you have continued making the payments on the property, the bank cannot foreclose on the property just because your father passed away. Banks will sometimes try to call the loan due at the borrower's death under the "due on sale" clause of the mortgage. However, federal law specifically prohibits banks from doing this when the property is transferred due to death. The bank should allow you to assume the loan. If you do not make the payments, the bank can foreclose for lack of payment. The link below is a link to the law which applies.

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James P. Frederick

James P. Frederick


Excellent answer!


In my experience, many banks are willing to work out terms and give you a mortgage, especially if you have a proven history of being able to pay and good credit. I recommend that you call several banks, if the bank who currently has the loan isn't being cooperative.

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