Legal House Deed Question....

tsavorite · ‎03-09-2010

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!

hoosieroriginal · ‎03-04-2012

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

Bri36 · ‎02-20-2017

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.

Snowpuppy · ‎03-09-2010

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.

GCR18 · ‎07-03-2013

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.

MickD · ‎03-10-2010

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

Where have you gone, Joe DiMaggio? A nation turns its lonely eyes to you.... ~ S & G

Silver Lining · ‎04-16-2010

@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.

geezerette · ‎03-16-2010

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.

Pearlee · ‎06-11-2011

"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.