Posted on: 16th Sep, 2010 01:40 pm
Hi,
My Grandmother passed away and the house that she owns in her will was stated as to be sold and the money divided up among her children. We have had the house appraised and she owes more than it is worth. I am currently living in her house and paying the mortgage. Do you have any suggestions on how this can be handled? Can a quick deed be done to where i can transfer the house in my name if the siblings sign off on it since no money will be made?
thank you.
My Grandmother passed away and the house that she owns in her will was stated as to be sold and the money divided up among her children. We have had the house appraised and she owes more than it is worth. I am currently living in her house and paying the mortgage. Do you have any suggestions on how this can be handled? Can a quick deed be done to where i can transfer the house in my name if the siblings sign off on it since no money will be made?
thank you.
Hi mermaid!
Welcome to forums!
As there is a will, it needs to be probated. Once you probate the will, her children will be able to get the property transferred in their names. As there is a mortgage on the property, your grandmother's estate will have to pay off the dues in full to the lender.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As there is a will, it needs to be probated. Once you probate the will, her children will be able to get the property transferred in their names. As there is a mortgage on the property, your grandmother's estate will have to pay off the dues in full to the lender.
Feel free to ask if you've further queries.
Sussane