Co-owner of my house died without life insurance

dmg11234

Co-owner of my house died without life insurance
Hi, I am looking for some advice while waiting to see a solicitor. I don't really know where to post this..

My fiance died in April suddenly aged 25. We bought our house together in March 2009. He did not have life insurance, he couldn't get it as he had a heart condition which meant no insurance company would insure him. We tried everything at the time and afterwards

He died in April and I am not sure where I stand now. Do I take on the full mortgage myself? If somebody does not have life insurance, and they own a house and they die, what generally happens? What would have happened to the debt if he owned the house by himself?

I know I need legal advice about this and that is the next step. But I am just confused right now as to where I stand with my house

Any advice would be appreciated, google is so confusing..

Thanks

CIARAN_BOYLE

Are you sure that there is no life insurance. It is incredibly rare for banks to allow you to get a mortgage with no life insurance. It may be built into the mortgage.

I presume that you take on the entire mortgage yourself although his share of the house may be inherited by other members of his family if he has no will.

dmg11234

CIARAN_BOYLE wrote: »

Are you sure that there is no life insurance. It is incredibly rare for banks to allow you to get a mortgage with no life insurance. It may be built into the mortgage.

I presume that you take on the entire mortgage yourself although his share of the house may be inherited by other members of his family if he has no will.

I'm sure. I didn't know at the time, but he took out a life insurance policy in which he lied and said he had no health issues. He did this so that we could buy the house. I did not know that he did that. He then cancelled it after the mortgage was approved, and he continued trying to get real life insurance. So I know there was none.

Gurgle

dmg11234 wrote: »

What would have happened to the debt if he owned the house by himself?

If he had a medical condition that meant he was uninsurable, he never could have got the mortgage and bought the house himself. I think its up to you to pay the full mortgage, but make sure the house is 100% in your name first. As you weren't married, you won't automatically get his share.

Gurgle

dmg11234 wrote: »

he took out a life insurance policy in which he lied and said he had no health issues.

Ah. This is bad, find a solicitor.

?Cee?view

Gurgle wrote: »

As you weren't married, you won't automatically get his share.

That's not necessarily true. It depends on how you owned it together and a solicitor will be able to tell you this by checking the title documents.

If you owned it as tenants in common, his share will pass under the rules of intestacy (where there is no will), or as provided for in his will.

If you owned it as joint tenant, then the property doesn't become part of his estate to be distributed under intestacy or by will and it goes to you as surviving joint tenant.*

Get to a solicitor when you're ready to do so.

My sincere condolences on your loss.


* Tenant and tenancy in this context is nothing to do with being a tenant in the general sense. It refers to a type of full ownership

howamidifferent

Since your probably in negative equity why not start fresh and let the bank take it back? Invalid contract based on no insurance etc....

dmg11234

howamidifferent wrote: »

Since your probably in negative equity why not start fresh and let the bank take it back? Invalid contract based on no insurance etc....

I can't lose our house. I just can't..

my friend

dmg11234 wrote: »

I can't lose our house. I just can't..

Its only a house, Can you afford to pay the mortgage?

?Cee?view

dmg11234 wrote: »

I can't lose our house. I just can't..

You're nowhere near that situation.

Your solicitor will be able to advise you fully. Really asking here is only likely to raise your anxiety levels. You need a one on one.

dmg11234

my friend wrote: »

Its only a house, Can you afford to pay the mortgage?

It's not only a house, it's our home and I don't have anywhere else to go, we have 2 dogs I can't exactly go rent a room somewhere. I love our house and I don't ever want to lose it because I feel like I will be losing a part of him.

At the moment my dad is building on a granny flat for me to rent out so that will help with the mortgage when I get a lodger

?Cee?view

dmg11234 wrote: »

It's not only a house, it's our home and I don't have anywhere else to go, we have 2 dogs I can't exactly go rent a room somewhere. I love our house and I don't ever want to lose it because I feel like I will be losing a part of him.

At the moment my dad is building on a granny flat for me to rent out so that will help with the mortgage when I get a lodger

Of course it's not only a house. It's got memories, dreams etc. tied up in it.

Banks are open to rearranging payments, deferring payments etc. these days. They have to be with the new insolvency legislation.

Please tell the solicitor the full facts. Please also tell him about the granny flat being built.

dee44

howamidifferent wrote: »

Since your probably in negative equity why not start fresh and let the bank take it back? Invalid contract based on no insurance etc....

Start fresh - yes the best way to start fresh is to start off with just having had a house repossessed by the bank!? Also it was not an invalid contract as the OP has stated that her fiance did have insurance at the time of mortgage(albeit he lied to get it) therefore how can you look for invalid contract - as far as the bank is aware it is valid.

In terms of the OP question - i definitely advise legal advise. if someone was the sole owner and died, the house would be sold to cover the loss incurred by the bank. Sorry for your loss

barman linen

Gurgle wrote: »

If he had a medical condition that meant he was uninsurable, he never could have got the mortgage and bought the house himself. I think its up to you to pay the full mortgage, but make sure the house is 100% in your name first. As you weren't married, you won't automatically get his share.

Firstly I am sorry for your loss......

There are provisions inthe Consumer Credit Act (?) that allow you to take on a mortgage if you are blacklisted from getting life insurance. I have taken three mortgages on this basis. I had to get refused by three separate life companies to prove I was uninsurable.

It looks however that your fiance did not know about this and his lie on the form hasn't helped you.

The only way I have been able to get life insurance is via my employer's death in service which is offered without evidence of medical history - did your fiance have a death in service scheme that may pay out ?

It would pay to his estate so you would need to be clear with his family as to what his intention may have been if he did not leave a will...as the money would likely be paid to his parents/siblings if he did not have a will in your favour.

If not please try and trade out of this....take on a lodger to susbidise the mortgage - not perfect but it may help you keep the house.

FreudianSlippers

Very sorry for your loss and the situation that has arisen, but I have to close this. It breaches our charter and is dangerous for yourself, boards and the people giving advice.