Can We Sell Our Home???

[smaihlee]

Question from S.C.:

When my husband and I bought our first home in '96, his father helped with the financing. Because my husband could not provide anything toward the mortgage, the deed was in his father's and my names. We refinanced in '98 because, at that point, we could handle the mortgage ourselves and wanted to free his father's liability. However, we did not find out until the end of the closing that the attorney's office failed to take my FIL's name off and add my husband. We decided it wasn't a big deal as long as the mortgage was ours alone, and proceeded with the closing.

My husband's father passed away two months ago. We moved just prior to that time, but still own the other house and are planning to put it on the market in the next few weeks. I just remembered about my FIL's name being on the deed and I am now panicked. My FIL was very financially stable and we have no worries about any liens being placed against the estate. However, can we sell the house prior to his estate being settled? I don't know if it matters, but FYI anyway: my MIL is still living and still married to my FIL at the time of his death.

Thanks in advance.

 

[HomeGuru]

Question from S.C.:

When my husband and I bought our first home in '96, his father helped with the financing. Because my husband could not provide anything toward the mortgage, the deed was in his father's and my names. We refinanced in '98 because, at that point, we could handle the mortgage ourselves and wanted to free his father's liability. However, we did not find out until the end of the closing that the attorney's office failed to take my FIL's name off and add my husband. We decided it wasn't a big deal as long as the mortgage was ours alone, and proceeded with the closing.

My husband's father passed away two months ago. We moved just prior to that time, but still own the other house and are planning to put it on the market in the next few weeks. I just remembered about my FIL's name being on the deed and I am now panicked. My FIL was very financially stable and we have no worries about any liens being placed against the estate. However, can we sell the house prior to his estate being settled? I don't know if it matters, but FYI anyway: my MIL is still living and still married to my FIL at the time of his death.

Thanks in advance.

My response: only if you and FIL held property via joint tenancy can you sell. If title to the property was held in tenants in common, the property is subject to probate.