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Do banks need to disclose e a death in reo property?

If there was a recent death in reo property(California) and if the bank knew about it, does the bank need to disclose the death to the buyer? 
  • September 01 2013 - US
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Answers (2)

As was stated earlier banks do get to disclose less than the average seller however in reality they have the same disclosure responsibility as a non-owner occupied investor.

That said their are some things everyone including investors and banks need to disclose however the responsibility is only within the time they have owned the property not anything prior to them taking possession.

So to answer your question, if the death happened after they foreclosed on the property and during their ownership they would be held under the same death disclosure responsibility as any other non-owner occupied.

Hopefully that answers your question to the fullest.
  • September 01 2013
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Profile picture for Outer Banks N C
 Banks have to disclose even less than regular owners.
  • September 01 2013
  • 0Yes

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