1, the heir inherits the property.
According to the provisions of the inheritance law, after the death of the lender, his legacy and other legacies can be inherited by the legal heirs. It should be noted that the heirs should bear the debts brought by this house while enjoying the property rights. Including the loan that the lender has not paid off, the liability for breach of contract caused by delayed repayment, etc.
If the lender's legacy is not enough to pay off the debts owed, the heir can choose whether to continue to pay. Generally speaking, for a house like this, which is often hundreds or tens of millions, the inheritance may not be enough compensation at all. This is related to the second situation we want to talk about, giving up inheritance.
2, the heir to give up inheritance
Article 161 of the Inheritance Part of China's Civil Code stipulates that if the heir renounces inheritance, he may not be liable for the taxes and debts that the decedent should pay according to law.
Simply put, if the heir gives up inheritance completely, the heir can not bear the taxes and debts that the deceased should pay before his death, and the mortgage of the house does not need to be repaid.
But here, there is another problem to pay attention to. If the loan belongs to the joint debt of husband and wife, in fact, one spouse bears the obligation to repay. If the heirs or their spouses are unable to repay, the house will eventually be sued by the bank for auction or sale to compensate for their losses.
At the same time, the insufficient money from the auction will not be pursued by the bank, and the excess heirs have no inheritance rights.
However, if the heir or spouse is only temporarily unable to repay, he can apply to the bank for an extension of repayment. The interest expenses after the extension may be different from the original monthly payment, and the specific situation needs to be negotiated with the bank.
3. Inheritance without heirs
If the lender has no heir to inherit, the situation is similar to giving up inheritance. The house will eventually be auctioned by the bank to repay the mortgage.
Generally speaking, in this case, whether the mortgage should be repaid depends on whether the former heir of the lender is willing to inherit his inheritance. If you choose to inherit, the mortgage will continue to be repaid by the heir; If you don't inherit, you can cancel the mortgage and the right to use the house will disappear.
Further reading: Friends circle crazy mortgage is still 80 years old, what is going on?
Recently, the topic that Nanning mortgage age limit can be extended to 80 years old has rushed to the hot search. It is understood that only a few banks have implemented this policy at present, and other banks have not received relevant notices. At the same time, the bank also said that no one had handled this business.
A number of media reports said that the Nanning branch of the bank said that the outside world had misunderstood this regulation. Recently, the Head Office issued a unified document, which relaxed the lender's age plus the loan period to no more than 80 years old, but the stipulation that the lender's age is no more than 70 years old has not changed. The relevant business premise is that the bank verifies that the lender's income can meet the loan requirements. As of now, the new regulations have not yet landed.
What if the buyer dies and the mortgage has not been paid off?
The director of Beijing Jin v. Law Firm said that there are generally two types. First, there is a guarantor. If you are older, the general bank will ask for a guarantor. One without a guarantor. If there is a guarantor, then if the borrower does not live to be 80 years old, after the borrower dies, the borrower's estate can be paid off first, or the heir can continue to repay the loan. When there is no inheritance to pay off or no heir to pay off, the bank may ask the guarantor to bear the responsibility of paying off or directly ask the guarantor to bear the obligation of guarantee according to the contract. If there is no guarantor, you can only pay off with the borrower's estate or find the borrower's heir to pay off. When the heir is unwilling to inherit the inheritance and debts, the bank can no longer let the heir pay off, and the creditor's rights cannot be realized.