What does successor and interest to mean?
What does successor and interest to mean?
The term successor in interest means a successor to another’s interest in property, especially a successor in ownership of a business that is carried on and controlled substantially as it was before the transfer.
Is an executor a successor in interest?
Successor in Interest means the Participant’s executor or administrator, or such other person or entity to which the Participant’s rights under the Plan shall have passed by will or the laws of descent and distribution.
Is an heir a successor?
As nouns the difference between successor and heir is that successor is a person or thing that immediately follows another in holding an office or title while heir is someone who inherits, or is designated to inherit, the property of another.
What does it mean to be a successor in interest?
Successor in interest means a person to whom an ownership interest in a property securing a mortgage loan subject to this subpart is transferred from a borrower, provided that the transfer is: Official interpretation of Successor in interest.
Can a mortgage assumption be made after a divorce?
While there are some compelling reasons to consider an assumption, it is not always the best way to protect your home or move forward after your divorce. Furthermore, it may not provide you with the funds necessary to comply with any potential buyout, alimony, or community interest payments you need to make to your spouse.
What does confirmed successor in interest mean in regulation X?
Regulation X For purposes of this subpart: Confirmed successor in interest means a successor in interest once a servicer has confirmed the successor in interest’s identity and ownership interest in a property that secures a mortgage loan subject to this subpart.
What is confirmed successor in interest in § 1024.31?
§ 1024.31 Definitions. For purposes of this subpart: Confirmed successor in interest means a successor in interest once a servicer has confirmed the successor in interest’s identity and ownership interest in a property that secures a mortgage loan subject to this subpart.
Successor in interest means a person to whom an ownership interest in a property securing a mortgage loan subject to this subpart is transferred from a borrower, provided that the transfer is: Official interpretation of Successor in interest.
While there are some compelling reasons to consider an assumption, it is not always the best way to protect your home or move forward after your divorce. Furthermore, it may not provide you with the funds necessary to comply with any potential buyout, alimony, or community interest payments you need to make to your spouse.
Regulation X For purposes of this subpart: Confirmed successor in interest means a successor in interest once a servicer has confirmed the successor in interest’s identity and ownership interest in a property that secures a mortgage loan subject to this subpart.
§ 1024.31 Definitions. For purposes of this subpart: Confirmed successor in interest means a successor in interest once a servicer has confirmed the successor in interest’s identity and ownership interest in a property that secures a mortgage loan subject to this subpart.