Debtor's death doesn't deter a foreclosure

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Mattie
Going to a Trustee Sale however I happen to know the owner is deceased. I confirmed this by pulling a copy of the death certificate. He originally purchased the property as "Married as His Sole and Separate Property". I do not think the Trustee knows he is deceased. If I buy the property at Trustee Sale can the heirs come back on me? Thank you in advance for any insight on this situation. Mattie

Mattie,

The foreclosure process is a method, set out by state law, that permits a creditor/lender to sell their borrower’s collateralized real property to pay off the balance of the lender’s loan any time it becomes seriously delinquent.

While an adult is alive, and in possession of their cognitive abilities, he/she is in control of their estate. When a person dies everything he/she has a pecuniary interest in automatically devolves to their estate.

Since their estate survives their death, so does any property in their estate, along with any liens that are still attached. If a delinquent mortgage isn’t dealt with in a timely fashion by an executor or administrator of the estate, it will lose title to the property via a foreclosure action.

Thus the right to foreclose is not conditioned upon the continuing life of the borrower, and the heirs thereto have no special protection from the foreclosure of the estate’s unpaid real property.

--------------------------Ward

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