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If you are living in a home with your parent who dies and there is a mortgage on the home does it have to be included in the probate of the estate. What are the ramifications of not doing so?
Probate is strictly governed by state law. In order for the title to real estate to pass to the heirs the estate must be probated. Generally, the value of the property less the amount of the balance due on the mortgage will be included in the inventory. There will be a notice of the death published in the local newspaper. The creditors of the decedent need to be notified of the death. The property is subject to the mortgage and if the mortgage isn't paid the bank will foreclose. You may need to negotiate with the bank to refinance the mortgage. You should consult with an attorney who specializes in probate.
Can a heir force an executor who is living probate house to take action on sale or to make payment of value of home to the heirs according to will while estate is in probate?
If the executor is acting in bad faith, certainly an heir could sue him for that.
Who is responsible for any balance if the bank repossessed your father's car after his death?
If your father left a Will, and he had an Estate (house, condo, property, etc.) then the Will goes to Probate and Probate makes sure all taxes on property, also personal outstanding taxes are paid off. It also pays off all creditors. For example: If your father left a Will and he owned a home, or had money in a couple of accounts the Probate would take that money and pay off all creditors (including the bank for the car) and any other debts. Only after this, do you get what is left in the Estate. I do believe the bank had no right to repossess the car after your father's death, but complied with Probate. I would seek legal help on this one.
How does probate handle the sale of a home?
If the person who owned the home is now deceased, that person's estate must be probated before the home can be sold. Probate is what authorizes someone representing the estate of the deceased person to sell the home.
Is a bank draft needed to purchase home insurance?
A bank draft is your choice of paying for the insurance, you don't necessarly have to pay your insurance through your bank, there is several different payment methods.
Foreclosure in probate?
me and my sister are in probate and faceing foreclosure because of miscommunication on the mortgage payments, what can we do?scared of losing mothers home.
Who is reliance GB?
Only one word needed.....SCAM. Do not give out any bank account details. Ideally you should not give out your home address or even who you bank with.
How does one get a home loan prequalification?
Most banks can prequalify people for home loans if the person getting the loan has used the bank for awhile. This is necessary so the bank has the basic financial information needed to prequalify someone.
What are some banks in Fairfield Connecticut that offer home loans?
TBF The Bank of Fairfield offer Home Equity Loans. They also loan money against the value of a local investment property. Fairfield County Bank offer Home Loans that can be applied for online. People's United Bank offer a Home Loans as well.
Does Key Bank offer home equity loans?
Key Bank does offer home equity loans to those that qualify. They offer both standard and high value home equity loans, and also offer payment protection and online banking.
Is probate done while person is in nursing home or is after death?
Probate is done only after death. Prior to that, the individual still controls their own assets.
Why waterproofing are needed?
Waterproofing are needed because : 1.) it increase your home value 2.) it offers various health benefits 3.) it save energy
