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How do I notify the mortgage company I am the owner by joint tenancy of the deceased?

How do I notify the mortgage company I am the owner by joint tenancy of the deceased?

Q: Can you remove someone's name from a mortgage without refinancing?

Generally, you cannot remove someone's name from a mortgage without refinancing. The mortgage lender must approve any changes to the loan agreement, which usually requires refinancing to remove a borrower from the mortgage.

Q: What is a quitclaim deed joint tenancy with right of survivorship?

A quitclaim deed in joint tenancy with right of survivorship allows two or more individuals to own property together. If one owner dies, their interest automatically transfers to the surviving owner(s) without going through probate.

Q: Does quit claim deed remove name from mortgage?

A quitclaim deed does not remove a name from a mortgage. It only transfers ownership rights of the property. The mortgage remains the responsibility of the original borrower unless they take further action.

Q: What are my rights if my name is not on the mortgage or deed?

If your name is not on the mortgage or deed, your rights may be limited. You may have an interest in the property if you can prove ownership through other means, but you typically won't have legal standing to negotiate with the mortgage company.

Full question:

I have quitclaim deed by way of joint tenancy, with rights to survivorship. The mortgage is not in my name. I want to pay-off, negotiate, or sell the property however, I am not the personal representative for the deceased mortgagor, so the mortgage company will not talk with me. Basically, I own the deceased interest in the property and am being prevented from obtaining it. What are my options?

Category: Real Property
Subcategory: Mortgage Satisfaction
Date: 04/07/2025
State: Arkansas

Answer:

Try sending the mortgage company a certified copy of the deed and a certified copy of the death certificate of the deceased joint owner.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Does a quitclaim deed remove someone from a mortgage?

No, a quitclaim deed does not remove someone from a mortgage. It transfers ownership rights of the property but does not affect the mortgage obligation. The mortgage remains with the original borrower unless they refinance or pay off the loan.