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Remove Deceased Customer as Joint Obligor?

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Question: 
When a customer dies, should they be removed as a joint obligor on a loan?
Answer: 

That really depends a lot on your loan contract and how the bank chooses to attempt to collect the loan going forward. The loan may become due and payable upon the death of an obligor. It would be best to consult your legal counsel.

First published on 12/12/2015

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