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If He Dies |
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the title and mortgage is in my name only if i should die what would happen to the house and land? should i have my wife put on the title or would it go to her after my death also what about the mortgage it is in my name only
thanks bob |
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About the mortgage -- lenders don't call it in when property is inherited by an heir. If you have a will your property will go to the heirs you name, except that your wife has a right to claim a certain share as defined by state law. If you don't have a will, the state will decide who gets your property--your wife, or if you have children, they will be entitled to a share.
You'd need a lawyer's help to draw up the documents for anything you decide to do, so you might as well talk it all over with an attorney in the first place, to see what fits your situation best. |
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Originally published on July 20, 2008 |
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