If a CD is being used to hold a loan and the owner of the CD dies, how do the decedents get access to it to pay off debts?
The first requirement is that the loan being secured by the CD must be paid off. This can be worked out between the executor of the estate and the lender holding the CD. If there is no probate of the estate taking place, the lender may be able to work with the decedent's next of kin. Once the loan is satisfied, any balance remaining should be released under ordinary circumstances.
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The first requirement is that the loan being secured by the CD must be paid off. This can be worked out between the executor of the 