Posted on: 26th Sep, 2009 03:36 pm
My grandmother passed away earlier this year. She left her home to my two sisters and I.The will was made when we were kids and she named my oldest sister as the executrix. However my granny was in about 20,000 in debt, now the bill is about 30,000 because of funeral expenses,etc. I currently live in the house and was living with her before she passed. Neither of my sisters has an interest in the home but i do. Out of the 30,000 about 9,500 is owed to the bank. We also have not finished probating the estate and the house was her only asset. Can I pay off the bank and have them quitclaim the property. Or would i have to buy the home for fair market value to pay off all the creditors?
You can absolutely do that
Ask your sisters to do a quti claim deed and you will be single owner of the property
To pay the crediotrs you will have to get money from some other source
Ask your sisters to do a quti claim deed and you will be single owner of the property
To pay the crediotrs you will have to get money from some other source