0
What else can I help you with?
Is probate needed when you inherit a home with a mortgage?
The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.
Do you have to pay your deceased brother's mortgage?
No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.
Is it necessary to file a petition in probate court to obtain information concerning mortgage insurance benefits?
No. The only action necessary is to contact the financial institution that holds the mortgage.
If a homeowner dies and leaves no will and only one of the four children maintain the mortgage and the maintenance how does that person take ownership or is it up to a judge or probate court?
When a person dies intestate the distribution of assets and the payment of debts come under the jurisdiction of the state probate court. Probate laws differ in what property of the estate is exempt from seizure to pay debts. The best option would be for the involved parties to consult an attorney who is knowledgeable in the probate laws of the state where the deceased resided.
If the mortgage on a house is paid do you still have to take it through probate?
That depends on several factors, the main one being the state probate laws, if there was a valid will, how the property is titled, and if the deceased had any outstanding debts.
Can mortgage company foreclose on an estate home in probate?
Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.
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.
Is probate needed when you inherit a home with a mortgage?
The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.
Do you have to go through probate if your wife is on the deed but not the loan and the husband dies?
If the deed is a survivorship deed then the property will automatically be the sole property of the wife and bypass probate. However, it will be subject to the mortgage unless you buy some type of mortgage insurance.If the deed is a survivorship deed then the property will automatically be the sole property of the wife and bypass probate. However, it will be subject to the mortgage unless you buy some type of mortgage insurance.If the deed is a survivorship deed then the property will automatically be the sole property of the wife and bypass probate. However, it will be subject to the mortgage unless you buy some type of mortgage insurance.If the deed is a survivorship deed then the property will automatically be the sole property of the wife and bypass probate. However, it will be subject to the mortgage unless you buy some type of mortgage insurance.
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.
Do you need to go to probate when upside down in mortgage and no assets?
No. Probate is the court that has jurisdiction over the estates of persons who have died.
If your mother dies without a will and owns a house with a debt what happens?
If she had insurance to cover the balance owed, then the debt could be eliminated and the Probate judge will consider ownership according to remaining heirs- husband and children. If she did not leave money to pay the balance, the mortgage holder may or may not allow you to assume the loan, depending on your personal credit record. The mortgage company may exercise an option to repossess the property if the heirs can not pay off the remaining note.
How can a bank foreclose on a deceased person?
A bank can not foreclose on a deceased person. A bank forecloses on a piece of property when the mortgage has not been paid. There is a difference. If the deceased person had the money in the bank to pay the mortgage and the will is in probate, someone should tell the probate judge about the situation. In this state the probate judge has the authority to pay the mortgage. He also has the authority to make the car payment. The probate judge will not do anything unless someone tells him!
Can a mortgage be omitted from probate if the property was deeded to someone else before death?
No, the mortgage is a debt of the estate. That mortgage must be resolved before the property can be transferred.
Do you have to pay your deceased brother's mortgage?
No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.No. Not unless you co-signed the mortgage. If you co-signed you are responsible for paying the mortgage.If you stand to inherit his property, the estate must be probate and the mortgage must be paid or the lender will take possession of the property by foreclosure.
Is it necessary to file a petition in probate court to obtain information concerning mortgage insurance benefits?
No. The only action necessary is to contact the financial institution that holds the mortgage.
If a homeowner dies and leaves no will and only one of the four children maintain the mortgage and the maintenance how does that person take ownership or is it up to a judge or probate court?
When a person dies intestate the distribution of assets and the payment of debts come under the jurisdiction of the state probate court. Probate laws differ in what property of the estate is exempt from seizure to pay debts. The best option would be for the involved parties to consult an attorney who is knowledgeable in the probate laws of the state where the deceased resided.
