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FAQ: Borrower is Deceased

Article ID: 16239 Email Print
Question
What if the borrower is deceased?

Answer

When a borrower is deceased their legal heir becomes entitled to the refund. In addition to providing Proof of Ownership, Proof of Entitlement is required, usually a copy of the death certificate showing next of kin.

According to HUD, in the event of the death of a co-homeowner who is a joint tenant or tenant by entireties, a copy of the death certificate establishes that the surviving co-owner(s) is/are entitle to payment. In the event more than one of the homeowners is deceased and the estate is closed, a copy of an executed will identifies the heirs entitled to the refund. If the estate is open, the refund is payable to the appointed official of the estate.


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Views: 2520 Created on: Mar 27, 2012
Date updated: Jul 05, 2012

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