Successor in Interest

A successor in interest is a person to whom a debtor could transfer the ownership interest on a property that secures a loan in any of the following circumstances or by virtue of law:

  • To a relative or heir after the debtor’s death
  • To the debtor’s spouse or children
  • By decree of dissolution of marriage or legal separation agreement, or
  • An inter-vivos trust in which the Debtor is and continues to be the Beneficiary and which does not refer to a usufruct right

You can request the information needed to be confirmed as a successor in interest for the purposes of receiving the loan’s monthly statements and other information.

For example, as part of this process, we may require the following documents (among others):

  • Death certificate
  • Declaration of heirs
  • Testament with its corresponding certification of having been the last one granted, or
  • Any document that can reliably prove that you are a successor in interest of the deceased loan borrower

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