Posted by Joe Kaiser on June 03, 1999 at 24:36:14:
It really doesn’t matter what’s the right or wrong way, or even the legal way to accomplish this. The only thing that matters is what satisfies the title company. Plus, they have attorneys to figure this stuff out and will generally (but not always) give you the solution that satisfies.
Joe
Cloud on Title… - Posted by BRnBA
Posted by BRnBA on June 02, 1999 at 21:26:31:
A gentleman & his wife hold a second on a property. Wife is now deceased. Is there any way this second can be assigned or released short of Quieting the Title?
Re: Cloud on Title… - Posted by Irwin
Posted by Irwin on June 02, 1999 at 22:44:03:
I assume you are thinking about buying the property. If so, you should obtain a title insurance commitment that will tell the seller what steps have to be taken in order for the surviving spouse to release or assign the mortgage. This might get complicated depending on the amount of the mortgage, the status of the wife’s estate, her death testate or intestate. Or, it might be a very simple matter under your state’s lasw. In any event, you want the title insured so that you know that whatever you do, you have eliminated it as a potential problem.
Re: Cloud on Title… - Posted by Rob FL
Posted by Rob FL on June 02, 1999 at 21:32:55:
Except in community property states, normally the full title to the mortgage should now be vested in the husband. Check the state law to be sure.