If a married couple borrows money as co-borrowers and one spouse dies, can the deceased person be removed from the account with new loan papers being signed?
Under such circumstances, the lender may be willing to act with the surviving borrower to refinance the debt. There may, however, be circumstances in which the lender will not wish to release the decedent's estate from liability.
Each case is unique, and will depend on the assets of the decedent's estate and those of the surviving debtor, ownership of any collateral pledged as security for the loan, the creditworthiness of the surviving debtor and other factors. The only way to know how a particular case would be viewed is to discuss it with the lender.
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Under such circumstances, the lender may be willing to act with the surviving borrower to refinance the debt. There may, however, be circumstances in which the lender will not wish to release the decedent's 