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Topic History of: due on sale cause invoked at death
Max. showing the last posts - (Last post first)
Author Message
lex_advoc It ain't right at all. No ipso facto transfer upon death was made.
lex_advoc The mortgage has not yet due. No valid transfer.
Miami LS When the debtor dies, lender's usually require someone else (i.e. executor) to provide "assurance" that the loan will be repaid. I havent seen them call a loan at death. Have the executor provide assurance.
chris Client dies and the bank finds out. Bank wants to call the loan. Cant find language in the mortgage that says they can call the loan at death. Mortgage states that upon a transfer the mortgage is due. Bank is saying that death creates a transfer. Is that right?
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