topic Re: Legal House Deed Question.... in Community Chat

Legal House Deed Question....

tsavorite — Sun, 21 May 2017 17:42:24 GMT

was wondering if anyone might either work for an attorney or know the answer to my question. I was watching S. Orman today and she used an example that set off alarm bells for me. She said let's say my Mom owns a $200.000 dollar home in CA....she has a mortgage for $200.000....and market value has dropped instead of rising. Mom would like me (suze) to have this home upon her death even though it has no equity in it. If she has only a will designating (suze) to get it in it that won't be enough. It will have to go thur probate....judge must review and must sign in place of her Mom (since she has passed) and then the new deed would be placed in her (suze) name. She said it can take up to 6months going thur probate court and the fees were crazy over 10,000 in that state just to do that!

My MIL from what I can see was/is in this situation....my husband wants nothing to do with her home....but his older brother who is executor does. There is only a will and it just lists the son's to get her estate equally. Home is under water....and so on.

What I heard Suze say sure sounds like it applies here. This is a probate situation now...in order for older brother to try to sell or get a mortgage on his Mom's home he 1st has to get the deed in his name and she's not here to sign for herself any longer so a judge must do that.

I know that was long but this is what I am thinking and since my spouse is listed on will to get estate equally he will be mixed up in it OR the older brother could just (maybe) turn property over to bank....that way you just walk away free and clear.

Anyway....if anyone knows anything about all this and can comment I appreciate it!

Re: Legal House Deed Question....

hoosieroriginal — Sun, 21 May 2017 18:08:07 GMT

Every state has different laws - I suggest you contact an attorney in your state.

Re: Legal House Deed Question....

Bri36 — Sun, 21 May 2017 18:10:41 GMT

You should check with a lawyer in your state to get the answer you're looking for.

Without knowing the particular laws in your state and the entire situation, the home might need to be put in trust.

Again, check with a lawyer. Good luck.

Re: Legal House Deed Question....

Snowpuppy — Sun, 21 May 2017 18:20:14 GMT

Your spouse should get the advice of an experienced probate lawyer in the state the property is in.

As some have posted here, Suzy's "advice" aint all that.

Her mother did mortgage her home before her passing.

Re: Legal House Deed Question....

GCR18 — Sun, 21 May 2017 18:29:06 GMT

What Suze said applied to my father/parents situation. My father wanted to avoid probate. He saw a lawyer that specialized in trusts and setup an irrevocable trust. He researched it for years before he did it. The house and retirement account was put in the name of the trust.

I had to get the trust it's own ss #. I file taxes for it. Once my mother passes, the trust can be dissolved. I had to take the cars and my father's checking account to probate. He passed before he finished switching everything into the trust. Probate took less than a month and was something like $500. This is in CT.

Re: Legal House Deed Question....

MickD — Sun, 21 May 2017 18:29:58 GMT

Unless a trust is set up, it will go through probate.

Re: Legal House Deed Question....

Silver Lining — Sun, 21 May 2017 18:33:08 GMT

@tsavorite, is your MIL alive and mentally functional or has she died? It makes a difference in how the situation you described would be handled.

Re: Legal House Deed Question....

geezerette — Sun, 21 May 2017 19:03:15 GMT

I agree with the others that your husband and/or his brother need to contact an attorney. If the estate is not complicated, it's quite possible that a paralegal within the attorney's office can handle it, most likely requiring some sort of trust, and will help to keep the cost down. If your mother-in-law is competent, she can have done exactly what she wants.

You don't want to be surprised by anything when she passes, or be held liable either. With the right legal documents in place now, when that happens it can go smooth as silk, without them it could be a nightmare that drags on and on.

Re: Legal House Deed Question....

Pearlee — Sun, 21 May 2017 19:07:22 GMT

"She said it can take up to 6months going thur probate court and the fees were crazy over 10,000 in that state just to do that!"

This part of your post especially would vary from state to state; how busy court dockets are certainly varies and legal fees would depend upon the complexity of the particular estate.

As others have said, state probate laws differ. You need the assistance of a licensed probate attorney in your state.

Re: Legal House Deed Question....

minkbunny — Sun, 21 May 2017 19:17:47 GMT

As said by the others, each state has their own laws regarding the transfer of property and goods.

An attorney usually will offer a free consulation to discuss the matter with you.

Re: Legal House Deed Question....

MarieIG — Sun, 21 May 2017 19:33:25 GMT

Laws differ from state to state. It is possible your MIL can do a new deed now and put the other son on with rights as survivor. The mortgage isn't going anywhere as the bank's rights survive. As for a free consultation, expect it to be short. Attorneys have overhead and other than some cases which allow for a contingency fee (such as personal injury) attorneys make their money buy selling their time - which is finite.

Re: Legal House Deed Question....

SahmIam — Sun, 21 May 2017 20:30:20 GMT

Laws differ from state to state.

Just because a will says something, doesn't mean the executor will follow through, especially if they have something to gain (seen it happen too many times and it has happened in my family quite a bit).

Probate costs can be so expensive that the heir/heirs may choose to walk away or sell their share to someone else (in the will) so it can be settled (saw that happen a few times). It is for this reason that my in-laws placed my DH on the deed of their house. They have other houses in other countries but only in the US can the cost of probate cause the person to say "sorry, can't afford to do this", not to mention taxes.

Definitely speak to an attorney. Good luck!! : )

Re: Legal House Deed Question....

tsavorite — Sun, 21 May 2017 21:01:40 GMT

Thanks for responding....yes my MIL just recently passed. I only saw the will recently and no other paper work so that is why I asked.

I also just remembered a close friend of mine a few yrs back had this happen...her Mom passed away and only a will done by an attorney. It said that both of her daughters and her boyfriend who the Mom lived with in the home should get the home divided equally. WHAT a long nightmare....it took almost 6 months....posting in papers for debtors to come forward and so on until finally the judge signed the deed over to the "3" of them listed and it finally went up for sale. In this case the home was paid off so everyone was very interested in getting this done.

In my MIL's case there is NOTHING....just a full mortgage....no assests. Like I said my husband wants NOTHING to do with it at all but he is listed on this will with other brother's to get things divided equally. So if the oldest who says he wants it will have to go to probate and begin this process....he is the executor.

I just want nothing to do with any of it....H and I feel same way....we want to just turn it over to the bank and be done with it.

Re: Legal House Deed Question....

Allegheny — Sun, 21 May 2017 21:19:21 GMT

@tsavorite

Try looking up the phrase "refusing inherited property". They will refer to "disclaiming inheritance listed in a will". Still probably should seek legal advice.

Re: Legal House Deed Question....

chickenbutt — Sun, 21 May 2017 21:32:49 GMT

If she is still alive I would ask her to take the house OUT of her will and then just let it go back to the bank when she dies. If it is mortgaged to the hilt, perhaps even beyond the actual market value, there is no point in surviving family members having to deal with it.

Having said all that, however, what I'd be afraid of is that, in willing it to her son (or whomever), that would cause him to owe the money due on the mortgage. This isn't a case of that being a worthwhile endeavor, IMO.

Beyond that, as others have said, each state has its own laws and I would consult somebody who is familiar with said laws.

Oh, never mind. I got interrupted and had to walk away mid-post so I didn't see that she has already passed.

Re: Legal House Deed Question....

Zhills — Sun, 21 May 2017 22:11:00 GMT

A recent program stated that "Every WILL must go through probate!" Suggested putting belongings into a TRUST instead so it would just go directly to person designated in the trust.

Should have listened more closely!

Re: Legal House Deed Question....

phoenixbrd — Sun, 21 May 2017 22:18:40 GMT

If you follow the free consultation advice, just be prepared for the meeting to be cut short if the attorney doesn't get a whiff of a piece of the pie...

@minkbunny wrote:
As said by the others, each state has their own laws regarding the transfer of property and goods.

An attorney usually will offer a free consulation to discuss the matter with you.

Re: Legal House Deed Question....

noodleann — Sun, 21 May 2017 22:50:09 GMT

@tsavorite wrote:
Thanks for responding....yes my MIL just recently passed. I only saw the will recently and no other paper work so that is why I asked.

I also just remembered a close friend of mine a few yrs back had this happen...her Mom passed away and only a will done by an attorney. It said that both of her daughters and her boyfriend who the Mom lived with in the home should get the home divided equally. WHAT a long nightmare....it took almost 6 months....posting in papers for debtors to come forward and so on until finally the judge signed the deed over to the "3" of them listed and it finally went up for sale. In this case the home was paid off so everyone was very interested in getting this done.

In my MIL's case there is NOTHING....just a full mortgage....no assests. Like I said my husband wants NOTHING to do with it at all but he is listed on this will with other brother's to get things divided equally. So if the oldest who says he wants it will have to go to probate and begin this process....he is the executor.

I just want nothing to do with any of it....H and I feel same way....we want to just turn it over to the bank and be done with it.

Here's the problem I have with the statement I've bolded. I know it's what you believe, but it doesn't make sense for the older brother to be so insistent about wanting the house if it's just a pile of debt. I would suggest that there's something you/your DH don't know about the situation that might change how it appears. For example, the house itself might be basically worthless, but what about the contents? Does the deed to the house include mineral rights, and could that be an asset that's now become valuable? Is it possible that a developer would like to buy the property to raze and has privately offered the brother considerably more than the mortgage balance to get the property?

I'd suggest holding off on doing anything before finding out why the brother is so determined to get that house.

Re: Legal House Deed Question....

Lipstickdiva — Mon, 22 May 2017 14:47:19 GMT

YOu need to contact an attorney in your state. I work for a law firm and I handle mostly probate and estate work. If what you said above is what Suze said, that is not true in the State of Ohio.

Some of what has been said here by posters also isn't correct in the State of Ohio.

For instance, there are ways to get a house to someone without creating a Trust and without going through Probate. There could possibly be medicaid situations to consider and many other issues.

Re: Legal House Deed Question....

Pearlee — Mon, 22 May 2017 14:45:53 GMT

@Zhills wrote:
A recent program stated that "Every WILL must go through probate!" Suggested putting belongings into a TRUST instead so it would just go directly to person designated in the trust.

Should have listened more closely!

@Zhills A program? You mean television? Was it Perry Mason?

I would not rely on a television program for legal advice.