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| Wills, Trusts, Estates Wills, trusts, estates, gift tax planning, etc. |
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#1 |
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Posts: n/a
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question about a will, what executor is responsible for
My husbands mother passed away, and left her house to all four of her children, all of whom are grown with families of their own. None of the four children wants to live in the house, except for my husband and I, with our children. My husband is the oldest child, and the youngest brother was named the executor of the estate. Right now, we are living in the house, as we moved here to help take care of his mother until she passed away. My question is, can we legally assume the mortgage, and stay here, with the okay of the other 3 siblings, and can the house be sold without the okay of all four siblings? Also, if we assume the mortgage, does that mean we also assume the bills that were left behind by his mother, or is the executor of the estate still responsible for those who are trying to collect? Can these people put a lien on the house if we are able to assume the mortgage, or would they have to have done so while it was still an estate? Does the executor make all the decisions regarding what happens to the house, even though it was left to all four kids? Someone please help? Need answers. Thankyou
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#2 |
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Top Level Member
Last Online:
Jul 11th, 2008 12:49 PM Join Date: Mar 2007
Posts: 694
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You can all agree or if not, then if two or more owners cannot agree on what to do with a piece of property they may petition the court and the court will order a sale or refinancing etc. so that the one or more may get out of the property obligation and/or the other(s) may keep it etc.--it is often done-- (This is true in some cases even for equitable owners that have paid various amounts etc., but for various reasons, may not be on title.) You could threaten to take this action if need be. It may cause compromise which is of course what you may need here now.
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