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 Dominique Borcy |
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21/06/2023 14:50:34Arturio Dancer Hi all. Many retirees sign a reverse mortgage agreement. It's essentially a mortgage on their real estate. I assume there are difficulties with the inheritance of real estate after that. What is the effect of a reverse mortgage on the inheritance of real estate? |
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21/06/2023 16:59:24Nikolya Zoro Hi. Absolutely right. A reverse mortgage can have an impact on the inheritance of the property. Since the funds from the reverse mortgage must be paid back to the bank after the owner dies, they can reduce the remaining amount for the heirs. This should be considered when planning your inheritance and advising a lawyer or financial advisor. Pros and Cons of Reverse Mortgage are absolutely different for everyone. |
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21/06/2023 17:33:00Lysii Arasa The mortgage agreement itself is not inherited; if the heir cannot pay the debt, he has the right to write a formal renunciation; the heir can receive a mortgage to pay off the debt of the testator. |
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