Usually, when someone passes away without a will, and has property or accounts which do not have beneficiaries designated on them, all their assets will have to go through a process called ';probate.'; This is essentially where the court decides who the closest relatives are, who gets the assets, etc. Once this process is complete, if you are given the house - it's yours. You can have the title transfered to your name, and are free to do whatever you want with it. Beware though, you may want to consult an estate tax attorney to make sure you don't get hit with a big tax bill.My brother had recently died without a will and has a home with a mortgage. Can I sell it?
All of his assets must be distributed first by a probate judge.
My condolences. You definitely need an attorney. In this market, you might want to consider doing some creative financing, like seller carry back to sell faster, once the court gives you legal custody of the house. Check out www.realestatefinancenow.com for some free report. This way, you sell faster and don't have to worry about property taxes. You can then sell your private mortgage created when you carry back, then you don't have to worry about the potential of the borrower defaulting on you.
Peace and blessings
Get an attorney. You鈥檒l have to file a claim through probate court.
Get a lawyer ...............
1. You definitely need a lawyer
2. You will definitely go to probate court without a will present
3. The purpose of probate court is to
inventory the estate, inventory debts, assess the claims of those parties attempting to recover the debt, assess the claims of those parties ascerting that they have a legal right to all or part of the estate (heirs).
4. If the debts are found to be valid, they are settled first and then what is left over is distributed among the legal heirs.
This is the general principal but it does vary state-to-state. If your brother had a large estate I stress the advice of getting a lawyer. People,S motives and intentions are not always clear in dealing with such matters.
If there are no other outstanding debts and the judge determines that you alone should be the sole inheritor of the house then you can have the title transferred to your name and sell it accordingly. If you have joint ownership you will need the consent of the other party/s prior to selling.
arthur, each state determines what happens when a resident dies ';intestate'; (without a will). There are specific formulas for how the assets are to be divided after all debts are paid.
We don't have wills because the state where we live specifies exactly the arrangements we'd want if we died, either singly or at the same time.
For your own state, you'd need to consult an attorney.
I'm sorry to hear you lost a brother. May he rest in peace.
You'll need to prove that you are his sole surviving relative in order to inherit the house. If his estate is large, that may take a while since everything will have to go through probate court. Contact an attorney and get expert advice. If the estate is small, you may be able to place a claim through the Clerk of the Court if you are the only surviving relative. You'll be told what to do, including advertising in the local newspaper for any creditors or claimants to come forward by a certain date.
A note of caution, somebody is going to have to keep those mortgage payments up to date or the house will be foreclosed upon and you won't have any options regarding selling the property.
You need to get a Probate Attorney and claim next of kin and go to court. If you have other brothers and sisters, they can claim a share too. Did he have any children? Probate is a Specialty.
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