A “Successor in Interest” is someone who has received an ownership interest in a property, even if they are not obligated to repay the debt. In other words, individual(s) who may have inherited or had a property transferred to them with no requirement to pay for the property.
Successor in Interest
How do I know if I qualify as a Successor in Interest?
Check the list below. You may qualify as a Successor in Interest to a property if the property was transferred to you through any of the following situations:
- Due to death of a joint tenant or tenant by the entirety
- From a relative due to death of the borrower
- From a spouse or child of the borrower
- From a divorce decree, legal separation agreement, or settlement agreement by the spouse of the borrower
- Through a living trust
Will I need to provide any documentation, and if so what documentation is required?
Yes, you will need to provide your personal identification, plus any required documentation demonstrating the property transfer.