Key Largo, FL Estate Planning Law Firms & Lawyers

The estate must still be settled, whether through an Affidavit of Heirship, a Small Estate Affidavit or a formal administration.  Talk with a local probate attorney to determine which works best in this situation.

An attorney will also need a death certificate, list of assets and debts, a list of next of kin and previous year's tax return in order to handle and evaluate a probate matter.

Technically the lender required both borrowers to be owners if the property at the time the loan was approved and there is typically a clause in the mortgage that says that if the property is transferred to someone other than the borrowers, then the mortgage is due in full. Moreover, the second borrower is still on the hook for the loan, even if you transfer ownership completely to yourself. From a practical point, the lender typically will not default the loan upon transfer as long as it remains current.