life estate with a mortgage: how could the attorney clear estate of deed?
This is a discussion on life estate with a mortgage: how could the attorney clear estate of deed? within the Wills, Trusts, Estates forum, part of the Other Family Law Matters category; my father had two wills. and mother and brother used the will with the life estate in it. the first ...
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#1 |
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Junior Member
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Join Date: Sep 2010
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my father had two wills. and mother and brother used the will with the life estate in it. the first will did not have a life estate in it. one will left everyone to mom, with me as extriax the second will gives mom a life estate in the property and then it goes to my brother for his life and then to the grandchildren. but mom and attorney place a mortgage on the property two days after attorney probates dad's will. my brother and mother wanted to use the will with the life estate because it shut me and my other brother out. the mortgage company was not told about the life estate. and then my brother and sister-in-law have a security deed for 80,000. from mom on this home. how can this be? i think my brother was laundering money and using estate for this purpose. how could the attorney clear estate of deed for life estate. lots of questions,sorry.
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#2 |
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Top Level Member
Join Date: Dec 2009
Posts: 12,915
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I wish to inform you that property with life estate may not be mortgaged. In this regard the person is having right to have estate for life only and therefore if life estate is mortgaged interest of bank cannot be determined. You may write a letter to bank and your brother and mother that mortgage on the property and you being executrix do not consent to it. If still none of the parties take action then you may start legal proceedings to remove mortgage.
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