Are we legally obligated to pay the mortgage to remain inan inheritedhouse?

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Are we legally obligated to pay the mortgage to remain inan inheritedhouse?

My wife’s uncle passed away several years ago leaving his brother my wife’s father and his sister as executors. They signed the property over to us but there is still a mortgage on the house that is in the deceased brother’s name.

Asked on January 12, 2012 under Real Estate Law, North Carolina

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Yes, if the mortgage is not paid or refinanced, the bank may foreclose and take the house; the fact that the homeowner/mortgagor died does not deprive the bank of its right to either be paid or get the house. If you are not on the mortgage, then it should not be able to sue you personally for the money; but if you don't pay or refinance, it can take the house.


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