Asked by Ms. SIU YI WOON
Hi, i would like to ask the house belongs to who when the sole owner pass away. the sole owner (single & not married) do not have a will. if the loan is not fully paid, of course the house still belongs to the bank but from bank side, there's definitely someone will need to settle the loan.who will be that person?presumely parents paid off the loan (because the MLTA beneficiary is the parents).will the property automatically being transferred to the parents. is there any procedures to be done? *my main concern is what will happen to my house if "touchwood" i suddenly pass away. hope someone can give me some advises here. thank you.
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