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What if the borrower dies before his spouse?

April 26, 2017borrower spouse

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What if the borrower dies before his spouse?

1 Answer

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10 Posted

Generally, the owner of the residential property and his/her spouse are joint borrowers in an RML. In the event of death of one borrower (say, the owner), the other (i.e. the spouse) may continue to live in the property till his/her death.