Legal abbreviation meaning with husband.
Popular Real Estate Terms
Person leaving from work to spend time in leisure activities. pay in full the balance on a debt either at or before the maturity date. Penalties may be assessed on prepaying a mortgage. ...
Contract to act on the behalf of a principal in selling real estate. The principal agrees to pay a commission to the broker when a buyer is produced who is ready, willing, and able to meet ...
Also called investment property. Real property held by a business for investment potential or in order to earn income by leasing or letting it, rather than for its own use. ...
Market analysis method where sales of similar properties in proximity neighborhoods are compared. The comparable sales methodology is extremely useful if the properties being compared are ...
person's behavior partly genetic and partly learned through experience over time. Some people have good personal traits while others have poor ones. ...
Created by the US Congress in 1965, the Department of Housing and Urban Development (HUD) is the agency principally responsible for federal programs relating to housing and urban ...
Commitment by a lender to a borrower for a given amount of money at specified terms for the financing of a project. The borrower pays a fee for the privilege of either executing the loan or ...
Nonrefundable fee to pay for the painting and cleaning of an apartment or office unit after a tenant vacates the premises. ...
Day the attachment of property under a judicial order becomes effective. ...
Comments for Et Con
My husband passed away and his name is on the deed with mine but not on the mortgage. Can his creditors come after me and take my house for his unpaid bills that are in his name only?
Sep 23, 2020 10:46:06Hey, Tina!
We are sorry about your loss. Unfortunately, in many cases when people pass away, the estate is everything that they own. After death, if there are any debts left on the behalf of the deceased the lenders have the right to get paid from the estate. There are multiple scenarios that can happen and most commonly the heirs, take over the loan. Heirs can also refinance the mortgage or if there is a reverse mortgage on the property, the heir will inherit the home after the reverse mortgage balance is paid. In all the mentioned situations the lender has to get paid for the remaining debt. Even if the mortgage is paid and there are other unpaid bills on behalf of the deceased, since the house is the only significant asset left behind, some states might require you to sell it in order to pay non-mortgage debts.
Sep 28, 2020 12:47:37Have a question or comment?
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