Can we assume the mortgage?
This is a discussion on Can we assume the mortgage? within the Other Real Estate Law Matters forum, part of the REAL ESTATE & PROPERTY LAW category; My question is, in light of my mother in law passing away, and leaving her house to her four kids, ...
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#1 |
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Junior Member
Join Date: Mar 2008
Posts: 5
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My question is, in light of my mother in law passing away, and leaving her house to her four kids, is is possible for my husband and I to assume the mortgage and keep living in the house? We live there now, moved in to help take care of his mother until she passed away. The other 3 kids do not want to live here, they all have homes of their own already. The youngest brother is the executor of the estate. Does that mean he gets to make all the decisions regarding the house, or since it was left to all four kids, do they all have to agree to whether its sold, or one of them keeps it. Also, is the youngest brother, as executor, responsible for the bills his mother left behind that are still outstanding. He told us that if we assume the mortgage, we also assume all the bills, and if they don't get paid, then these bill collectors can take the house. Is this true, even though it would no longer be an estate, but in our name if we can assume it. Right now, there is a For Sale by owner sign out front, and I am just getting tired of people traipsing thru the house, looking at it, when we have no interest in it being sold, we want to stay here, and assume the mortgage, and just keep making the payments. If anyone out there knows anything about this, or has been thru anything like this, please reply. Thankyou
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#2 |
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Veteran Member
Join Date: Mar 2007
Posts: 451
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see your other post
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