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Can heirs borrow money on property that father has lifetime right to?
Wiki User
∙ 14y ago
Yes, provided that the father gives his consent in writing. He would have to sign the mortgage.
Wiki User
∙ 14y ago
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Can heirs borrow money on a estate in probate?
It is possible in some cases. The testator can also specify in the will that such property cannot be used that way.
If your deceased father had a home equity loan are the heirs now responsible for paying it off?
The heirs are not legally responsible for paying the loan. However, if they want to keep the property the loan must be paid or the lender will take possession of the property by foreclosure.
Why would my father's wife insist he put the house in a Trust fund?
If your father transfers his property to a trust that would get it out of his estate and out of reach of his heirs at his time of death. She may be seeking to disinherit your father's children.
Does the bank sell a reverse mortgage home on owners death?
Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.Yes, unless the mortgage is paid off by the heirs if they want to keep the property.
Can a trustee get a loan on the property held in trust to pay off heirs?
Trustee is not the owner of the property and hence he will have no right to sell the property held under trust.
Can heirs borrow money on a estate in probate?
It is possible in some cases. The testator can also specify in the will that such property cannot be used that way.
If your deceased father had a home equity loan are the heirs now responsible for paying it off?
The heirs are not legally responsible for paying the loan. However, if they want to keep the property the loan must be paid or the lender will take possession of the property by foreclosure.
What happens to deceased father's real estate if he left no will and there's no spouse just adult children?
His estate must be probated in order for title to his property to pass to his heirs at law legally. Generally, the father's property will pass according to the laws of intestacy in his jurisdiction. You can check the laws in your area at the related question link.His estate must be probated in order for title to his property to pass to his heirs at law legally. Generally, the father's property will pass according to the laws of intestacy in his jurisdiction. You can check the laws in your area at the related question link.His estate must be probated in order for title to his property to pass to his heirs at law legally. Generally, the father's property will pass according to the laws of intestacy in his jurisdiction. You can check the laws in your area at the related question link.His estate must be probated in order for title to his property to pass to his heirs at law legally. Generally, the father's property will pass according to the laws of intestacy in his jurisdiction. You can check the laws in your area at the related question link.
Why would my father's wife insist he put the house in a Trust fund?
If your father transfers his property to a trust that would get it out of his estate and out of reach of his heirs at his time of death. She may be seeking to disinherit your father's children.
What happens to estates when there are no heirs?
When a person dies and has no heirs or next of kin their property "escheats" to the state.
Does Massachusetts require probate following a death?
If the decedent owned any property- yes. Real property cannot pass to the heirs legally until the estate is probated.If the decedent owned any property- yes. Real property cannot pass to the heirs legally until the estate is probated.If the decedent owned any property- yes. Real property cannot pass to the heirs legally until the estate is probated.If the decedent owned any property- yes. Real property cannot pass to the heirs legally until the estate is probated.
Do all heirs have to agree to the sale of property when there is no will?
Yes, all heirs typically need to agree to the sale of property when there is no will. Each heir has a legal right to inherit a portion of the property, so their consent is usually required for any decision regarding the sale of the property. If an agreement cannot be reached, a court may need to be involved to determine the outcome.
Does property left to heirs remain as estate of individual until sold?
Yes, the property left to heirs becomes part of the individual's estate until it is transferred or sold by the heirs. The heirs inherit the property with the rights and responsibilities associated with ownership while it remains part of the estate.
How was ownership of slavery transferred?
Slaves were sold as personal property by living owners or left to their heirs in a will after their death. If there was no will the slaves would pass to the heirs at law according to the laws of intestacy of that time period.Slaves were sold as personal property by living owners or left to their heirs in a will after their death. If there was no will the slaves would pass to the heirs at law according to the laws of intestacy of that time period.Slaves were sold as personal property by living owners or left to their heirs in a will after their death. If there was no will the slaves would pass to the heirs at law according to the laws of intestacy of that time period.Slaves were sold as personal property by living owners or left to their heirs in a will after their death. If there was no will the slaves would pass to the heirs at law according to the laws of intestacy of that time period.
Both parents have died and left a will does the estate still have to go through probate?
If they left any property in their own names the estates must be probated in order for title to property such as bank accounts to be changed. An estate of real property must be probated in order for title to pass to the heirs legally.
Both parents die with property in tenants of entirety do heirs receive the property?
Yes.
Can heirs transfer deeds to someone since the property is not yet partitioned and there is no will?
You need to consult an attorney who specializes in probate. The property cannot be transferred by heirs until the estate has been probated.You need to consult an attorney who specializes in probate. The property cannot be transferred by heirs until the estate has been probated.You need to consult an attorney who specializes in probate. The property cannot be transferred by heirs until the estate has been probated.You need to consult an attorney who specializes in probate. The property cannot be transferred by heirs until the estate has been probated.
