Deceased as joint mortgage creditor - what happens? | ScriptaLegal
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Frequently asked questions > Maritime > Maritime hypothec > What happens when the deceased was a joint mortgage creditor of the boat or of a share in the boat?

What happens when the deceased was a joint mortgage creditor of the boat or of a share in the boat?

In a context of joint ownership according to the Canada Shipping Act, 2001, the mortgage claim held in joint ownership with other creditors will not be included in the deceased's patrimony. The rights in this claim will be attributed to the other joint mortgage creditors. It will thus be necessary to provide an agreement between the joint mortgage creditors so that the rights of the heirs of the deceased mortgage creditor are protected.

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