Sometimes, so that a couple can have a credit Higher, it is necessary to bring together the amounts of the two spouses to increase the purchasing capacity and thereby acquire a better home. This is called joint mortgages.
According to the National Commission for the Protection and Defense of Users of Financial Services (Condusef), when acquiring a joint mortgage, the income of the two members of the couple is considered. Therefore, the responsibility to pay for housing is the two persons.
What happens to joint mortgages if your partner dies
If this unfortunate case occurs, the Condusef points out that when the credit is granted, the two people are covered by the life insurance linked to the mortgage.
“If either one dies, the insurance settles the debt,” says Condusef.
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However, the cancellation of the debt will be applicable as long as the conjugal joint coverage scheme is included in the policy and there are no payment delays.
What happens if an Infonavit borrower dies
Please note: it is very important that when an accredited Infonavit die, your relatives immediately report it to the Institute with the necessary documentation, such as the death certificate. (Below the rest of requirements).
This is for a very simple reason: if you do not report that your loved one has died, the credit will continue and the beneficiaries will not be able to release it.
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In addition, you as a borrower, today, must know that the person who will have the right to claim your home (in the event that you have not left a will) will be the beneficiary you have designated before the IMSS, or it will be determined in a trial .