Estate Question

[djmiddle]

What is the name of your state? South Carolina
If someone passes away, can you take over their property, or assume their mortgage if you have Power of Attorney? Any information would be greatly appreciated.

[FlyingRon]

Originally Posted by djmiddle

What is the name of your state? South Carolina
If someone passes away, can you take over their property, or assume their mortgage if you have Power of Attorney? Any information would be greatly appreciated.

Nope, a power of attorney expires with the person. If the property was held in a trust then the trustee has control of it after death, though.

[nextwife]

If the person had a will, probate should be filed and the property distributed in accordance with the will, and creditor claims against the estate. If no will probate still needs to be filed, and the estate distributed in accordance with intestate probate for that state.

If the decedant was not the only party in title, the decedant's interest could be controlled by the type of ownership, possibly becoming the property of a surviving Jt. Tenant.