No! That's what a Probate is. Usually lawyers will do the leg work for Probate and this means they will be sure all titles are clear on homes(s) or properties. They also make sure all creditors are paid off and this includes property/personal taxes. mortgages and loans. Because of Probate the mortgage lender would be paid out of the Estate and the residue of that Estate would be left to the Heirs. Marcy
No, in fact, you can have as many co-executors as needed. However, as you can imagine, the more co-executors you have, the more complicated administering the estate becomes. I always suggest that only one executor is named, followed by an alternate executor if the original executor cannot act, or has pre-deceased the testator.
Refinancing a mortgage can sometimes save money in the long run. Many times the original lender can modify the loan. Other times borrowers can find a new lender to purchase the loan from the original lender.
The court will appoint a new executor. It can be another family member, an attorney or a bank.
The mortgage must be paid. When a property has been encumbered by a mortgage the property remains subject to the mortgage even if the title is transferred or the original owner dies. You need to pay off the mortgage or make arrangements with the bank to transfer it to your own name. If the mortgage isn't paid the bank will take possession of the property by foreclosure.
Yes. The court will notify the original executor they have been removed although they should already be aware there are problems with their fulfillment of their duties. If they didn't request to be removed as executor then the beneficiaries requested their removal. They are required to file an account detailing their activities regarding the estate assets. The original executor does not have to be notified if the situation is one where a person during his/her lifetime makes a new will in which a new executor is named.
The original must be presented to the probate court to be examined and allowed along with a petition by the named executor to be appointed the executor. In order to commence the probate proceeding the original must be turned over to the executor. You should consult with an attorney who specializes in probate.
Mortgage loan originator is an institution or individual that works with borrower to complete a mortgage transaction.A mortgage originator can be a mortgage broker or mortgage banker & is the original mortgage lender.
Home equity loan refinancing means paying off an existing mortgage with the proceeds from a new loan, using the same property as collateral. It is a second mortgage. It is important to note that you may be subject to the same costs you paid to get your original mortgage, including settlement costs, discount points and other fees. A prepayment penalty may apply for paying off the original mortgage early. The amount you save will vary depending upon factors such as interest rates, refinancing costs and tax consequences. Borrowers may have the option to refinance from an adjustable rate mortgage with a high interest rate subject to increases to a lower fixed-rate mortgage.
Not much, other than the son/executor would be responsible for reimbursing the estate for the money put forward for burial, unless said money was used to purchase the other grave site.
It is up to the lender whether the mortgage can be assumed. If the lender approves the assumption it will draft documents that will free the original mortgagor from the obligation of the mortgage and the person assuming the mortgage will need to sign to assume the debt and obligations under the mortgage.The original mortgagor can't get out from under a mortgage obligation by simply selling a property that's subject to a mortgage.It is up to the lender whether the mortgage can be assumed. If the lender approves the assumption it will draft documents that will free the original mortgagor from the obligation of the mortgage and the person assuming the mortgage will need to sign to assume the debt and obligations under the mortgage.The original mortgagor can't get out from under a mortgage obligation by simply selling a property that's subject to a mortgage.It is up to the lender whether the mortgage can be assumed. If the lender approves the assumption it will draft documents that will free the original mortgagor from the obligation of the mortgage and the person assuming the mortgage will need to sign to assume the debt and obligations under the mortgage.The original mortgagor can't get out from under a mortgage obligation by simply selling a property that's subject to a mortgage.It is up to the lender whether the mortgage can be assumed. If the lender approves the assumption it will draft documents that will free the original mortgagor from the obligation of the mortgage and the person assuming the mortgage will need to sign to assume the debt and obligations under the mortgage.The original mortgagor can't get out from under a mortgage obligation by simply selling a property that's subject to a mortgage.
Form 1310 is Statement of Person Claiming Refund Due a Deceased Taxpayer. Form 1310 isn't filed in two situations. One, a surviving spouse is filing an original or amended return with the deceased. Two, a personal representative (executor or administrator) is filing an original return for the deceased. The personal representative must attach to the tax return a court certificate showing the appointment as personal representative by the court. For more information, go to www.irs.gov/taxtopics for Topic 356 (Decedents).
One needs to refer to the original mortgage document to determine the title, address and capacity of the original MERS entity that stood as mortgagee.One needs to refer to the original mortgage document to determine the title, address and capacity of the original MERS entity that stood as mortgagee.One needs to refer to the original mortgage document to determine the title, address and capacity of the original MERS entity that stood as mortgagee.One needs to refer to the original mortgage document to determine the title, address and capacity of the original MERS entity that stood as mortgagee.