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The Law & You

Will My Husband Inherit Our Home If I Die?

The Law & You
September 7, 2018

The Law and You

Will My Husband Inherit Our Home If I Die?

A couple had remortgaged their home a while back and put it under the wife’s name. Now she’s concerned if she passes away before him he may not inherit the home. What can they do?

Dave Kuharchik: Time once again for “The Law & You,” featuring the area’s premier attorneys in the virtual law center. We take care of these guys, Greg Fellerman and Ed Ciarimboli are here. Good to see you guys.

Ed Ciarimboli: We’re in good company.

Dave: Well, it’s a trio that’s made to contend with here.

Ed: Like Mo, Larry, and Curly.

Dave: More like that. All right, here’s our question tonight and this involves the situation for Julianne in Moosic. She says, “My husband and I remortgaged our home a couple of years back. We did it in my name only. If I were to pass away before him, would he inherit the home and assume the mortgage? We now share all household expenses.” What’s the story for Julianne?

Ed: There are really two parts to this question. Yes, he would inherit the home because it’s considered marital property and it was purchased after you got married. Even if it’s in your name only, it is going to pass to your husband. But the problem is him assuming the mortgage. That is a far more tricky question and, honestly, there are some nuances with the bank and refinancing. So, he may not be able to just assume the mortgage payment.

Greg Fellerman: Yeah, the banks don’t like to do assumptions of the mortgage. Especially if your person is not on the deed. So it’s important to make sure that the deed is one instrument, the mortgage is another. The deed tells the world who owns the property, the mortgage gives notice that there is an encumbrance on that property. So there are two different instruments. So banks like when everything matches up. I’m not exactly sure, they really didn’t talk about the ownership part of it, but kind of an interesting question.

Ed: Yeah, very interesting question. And we now have Alex Russin. He’s at our office, he does a ton of mortgages and real estate and deeds so if you have a question about this, give us a call. We can certainly point you in the right direction.

Dave: All you have to do is reach out by the number on the bottom of your screen or the website as well. And don’t forget results matter. Attorneys Greg Fellerman and Ed Ciarimboli. Thanks, guys.

Ed: Thanks, Dave.

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The Law & You is a nightly feature on channels WBRE-TV 28 and WYOU-TV 22 where the attorneys from Fellerman & Ciarimboli answer legal questions. If you have a question that you want answered by the Law & You attorneys, please submit the form on this page or call the hotline at 1-888-570-HURT.

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