Death and Foreclosure

[marciadawn]

undefinedNorth Carolina

My father REmarried in February 2003 and he passed away in July 2004. He did not leave a will. I have three siblings. We searched the deed on the property that he owned which includes land and a house. We finally find that there was a mortgage on the house. During the months past his death we have been trying to come to some arrangement with his wife.... unbeknown to us she wasn't making the mortgage payment and now the house and land are in foreclosure. My questions are:
Are we liabable for this debt?
What should we do now?

Originally Posted by marciadawn

undefinedNorth Carolina

My father REmarried in February 2003 and he passed away in July 2004. He did not leave a will. I have three siblings. We searched the deed on the property that he owned which includes land and a house. We finally find that there was a mortgage on the house. During the months past his death we have been trying to come to some arrangement with his wife.... unbeknown to us she wasn't making the mortgage payment and now the house and land are in foreclosure. My questions are:
Are we liabable for this debt?
What should we do now?

You need to set up a probate estate. Since pa did not have a will, that means that he intended for the government to determine how the stuff will be split up.

Here is that law:

[url]http://www.finance.cch.com/pops/c50s10d190_NC.asp[/url]

North Carolina Intestate Succession Laws

If any part of a North Carolina decedent's estate is not effectively disposed of by will, the intestate share will be distributed in the following order and manner:

1. Surviving spouse. A surviving spouse is generally first in line to get any assets from the intestate estate. However, the amount a surviving spouse is entitled to varies as follows:

* A surviving spouse is entitled to the entire intestate estate (both real and personal property) if the decedent is not survived by a child, a lineal descendant of a deceased child, or a parent.
* If the decedent is survived by only one child or by any lineal descendant of only one deceased child, the surviving spouse gets an undivided one-half interest in the real property of intestate estate, plus the first $30,000 of personal property and one-half of the remaining personal property in the intestate estate.
* If the decedent is survived by two or more children, or by the lineal descendants of deceased children, the surviving spouse gets an undivided one-third interest in the real property of intestate estate, plus the first $30,000 of personal property and one-third of the remaining personal property in the intestate estate.
* If the decedent is not survived by children or their lineal descendants, but is survived by at least one parent, the surviving spouse gets an undivided one-half interest in the real property of intestate estate, plus the first $50,000 of personal property and one-half of the remaining personal property in the intestate estate.

2. Heirs other than surviving spouse. Any part of the intestate estate not passing to the surviving spouse as indicated above, or the entire intestate estate if there is no surviving spouse, passes as follows to:

1. Decedent's children or the lineal descendants of a deceased child.
2. Decedent's parent or parents equally.
3. Decedent's brothers and sisters or the lineal descendants of a deceased sibling.
4. If none of the above relatives are available, but the decedent is survived by one or more grandparents or issue of grandparents (e.g., decedent's aunts and uncles), half of the estate passes to the paternal grandparents if both survive, or to the surviving paternal grandparent or to the issue of the paternal grandparents if both are deceased. The other half passes to the maternal relatives in the same manner. If there is no surviving grandparent or issue of grandparent on either the paternal or maternal side, the entire estate passes to the relatives on the other side in the same manner as the half portion would.

3. State of North Carolina. If there is no taker under any of the above provisions, the intestate estate passes (escheats) to the state of North Carolina.

North Carolina Intestate Succession Law Fun Facts

* Relatives of the half blood inherit the same share they would inherit if they were of the whole blood.
* Lineal descendants and other relatives of the decedent born within 10 lunar months after decedent's death inherit as if they were born during decedent's lifetime.
* Evildoers take note! Whether or not there is a will, any person who murders or participates in the murder of the decedent is prohibited by law from receiving any of decedent's assets. The murderer is treated as if he or she had predeceased the murdered decedent.
* North Carolina's intestate succession laws can be found in Chapter 29 of the North Carolina General Statutes.

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