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The Refinancing Nightmare!

October 25, 2021 by Elizabeth Neyens

Joe passes away. Sally, his wife, continues to live in the home she occupied with Joe. Five years later she decides to refinance the house. The mortgage broker contacts Sally a few days before signing to let her know that they can’t move forward with refinancing until she has a legal interest in the home. 

What went wrong?

It turns out that the house was owned solely by Joe at his death, meaning he was the only legal owner on the title/deed for the property. Therefore, a probate should have been opened at his death to transfer legal ownership to Sally.  Since a probate was never opened, Sally must now go through a court proceeding to transfer the house into her name before she can refinance or sell the home.

Remember, it’s all in the details.

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Elizabeth Neyens
Elizabeth Neyens
Elizabeth Neyens currently practices in Woodbury, Minnesota, primarily in the areas of estate planning and, probate, which are two areas that involve family transitions, challenging circumstances, thoughtful decisions, and careful planning.Elizabeth aims to be not only a legal advocate, but also a calming influence.
Elizabeth Neyens
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Filed Under: Estate Planning, Refiancing Tagged With: Estate Planning, estate planning attorney, Neyens Law, Refinancing, trust, trustproperty, will, woodburyestateplanningattorney

About Elizabeth Neyens

Elizabeth Neyens currently practices in Woodbury, Minnesota, primarily in the areas of estate planning and, probate, which are two areas that involve family transitions, challenging circumstances, thoughtful decisions, and careful planning. Elizabeth aims to be not only a legal advocate, but also a calming influence.

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Neyens Law PLLC,

Oakdale, MN (Main Office)
600 Inwood Ave N, Suite #150,
Oakdale, MN 55128
United States (US)
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