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Debra, Lawyer
Category: Canada Law
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My husband and I jointly own a home. He recently passed

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My husband and I jointly own a home. He recently passed away. There is a line of credit against the house. That is in both of our names. When I transfer the house to my name does the line of credit follow. I do not wish to sell the house at present
Submitted: 1 year ago.
Category: Canada Law
Expert:  barristerinky replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.


Yes, if there is a line of credit on the house, it would follow the property with you now being the only guarantor for any loan that might be taken out against the equity in the house.


When a property is jointly owned by spouses, when one passes, the survivor instantly becomes the sole owner of the property subject to any existing liens, debts or mortgages on it. Since it is the house that is securing the line of credit, nothing would affect it once the house is solely in your name.





Expert:  Debra replied 1 year ago.

This question is now on the Canada law list. Can you confirm that this is about the law in Canada?

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