The only way you can "take possession" of property is by being the legal owner.
If your parents are deceased then the estate of the last living parent must be probated in order for legal title to pass to the heirs. Title will pass according to the Will if the parent died testate. It will pass according to the laws of intestacy in your jurisdiction if there was no Will. If there was no Will, you may need to buy your siblings interest in the property if you want to become the sole owner. When a parent dies without a Will (intestate) their property passes according to law to all legal heirs regardless of where they live.
You need to consult with an attorney who specializes in probate law in your jurisdiction who can review your situation, review the title to your parents' property and explain your rights and options.
You can check the laws of intestacy in your jurisdiction at the related question link.
In fact, minors can own personal property although parents may exercise control or assert restrictions on the minor's use and possession of the property.
When you are living with your parents, you are a resident of the household.
A minor can only petition for emancipation in the state in which they are a legal resident, so you can't just go to another state and do it.
Generally the property passes to the surviving spouse according to the state laws of intestacy. You can check the laws for Arkansas at the related question link provided below.
yes
A life estate is the right to the possession, use and income from a property for the duration of one's natural life. For example, an elderly couple who owns a home could convey the property in fee, by deed, to their adult children. In the deed they could reserve a life estate for each of them. By doing so they could continue to live in the property for the rest of their natural lives and upon their deaths the property would be owned free and clear by their children. While the parents are still alive, although their children are the owners of the property, the children would need the parents' signatures to sell or mortgage the property.
Use an apostrophe only (without the s) to the word parents if it indicates possession. Example: parents' house
No. They cannot "make" you pay the mortgage. However, if the mortgage isn't paid the lender can take possession of the property by foreclosure. If you want to keep the premises you must arrange to pay the mortgages.No. They cannot "make" you pay the mortgage. However, if the mortgage isn't paid the lender can take possession of the property by foreclosure. If you want to keep the premises you must arrange to pay the mortgages.No. They cannot "make" you pay the mortgage. However, if the mortgage isn't paid the lender can take possession of the property by foreclosure. If you want to keep the premises you must arrange to pay the mortgages.No. They cannot "make" you pay the mortgage. However, if the mortgage isn't paid the lender can take possession of the property by foreclosure. If you want to keep the premises you must arrange to pay the mortgages.
No, since they are not your biological parents.
Yes.
well, you cant but your parents can.
Your parents' property will pass to their heirs at law according to the state laws of intestacy when their estates are properly probated. You can check the laws in your state at the related question link. The mortgage must be paid or the lender will take possession of the property by foreclosure. If you want to keep the property then you must make arrangements to pay the mortgage. Some mortgage agreements allow assumption by a family member after the death of the original mortgagor. In the case of real property the parent's estate must be probated in order for title to the property to pass to the heirs legally. You should consult with an attorney who specializes in probate law in your area.