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Both parents dead mortgage in their names

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selittle

Junior Member
What is the name of your state? Nebraska
My parents purchased this house in 1982 and I have lived there and made the payments since that day. Both have passed away, no will, and I would like to transfer the mortgage to my name. I have 2 siblings who agree to sign anything needed to make this happen. What do we need to do? Do we need to hire an attorney to do this? Is there any "groundwork" I can do to cut down on the costs?
Sue
 


divgradcurl

Senior Member
selittle said:
What is the name of your state? Nebraska
My parents purchased this house in 1982 and I have lived there and made the payments since that day. Both have passed away, no will, and I would like to transfer the mortgage to my name. I have 2 siblings who agree to sign anything needed to make this happen. What do we need to do? Do we need to hire an attorney to do this? Is there any "groundwork" I can do to cut down on the costs?
Sue
You need to probate the estate first to get the house in the name of the heirs (you and your siblings), then maybe you can get your siblings to quit-claim their interest to you, then you can see about getting the mortgage in your name. Most likely you will need to refinance, but you never know, maybe you can work something out with the current mortgage company.

You can't simply "step into the shoes" of your parents, however -- you need to have the title transferred first, and that requires probate.
 
S

seniorjudge

Guest
selittle said:
What is the name of your state? Nebraska
My parents purchased this house in 1982 and I have lived there and made the payments since that day. Both have passed away, no will, and I would like to transfer the mortgage to my name. I have 2 siblings who agree to sign anything needed to make this happen. What do we need to do? Do we need to hire an attorney to do this? Is there any "groundwork" I can do to cut down on the costs?
Sue
Since there is no will, the property will pass like this:

Nebraska Intestate Succession Laws

If any part of a Nebraska 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:

* If the decedent leaves no surviving issue or parents, the surviving spouse is entitled to the entire intestate estate.
* If the decedent is survived by a parent, but not survived by issue, the surviving spouse gets the first $50,000, plus one-half of the remaining balance of the intestate estate.
* If all of the decedent's surviving issue are also issue of the surviving spouse, the surviving spouse gets the first $50,000, plus one-half of the remaining balance of the intestate estate.
* If one or more of decedent's surviving issue are not issue of the surviving spouse, the surviving spouse gets one-half of 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 the decedent's:

1. Issue, with all in the same degree of kinship sharing equally and those in a more remote degree (e.g., if decedent's child predeceases the decedent and leaves their own children) taking per stirpes.
2. Parent or parents equally.
3. Issue of decedent's parents, per stirpes.
4. One or more surviving grandparents or the descendants 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 descendants of the paternal grandparents if both are deceased, taking per stirpes. The other half passes to the maternal relatives in the same manner. If there is no surviving grandparent or descendants 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.
5. Closest available next of kin, with those claiming through the ancestor nearest to the decedent getting everything if the next of kin are otherwise of the same degree of kinship.

3. State of Nebraska. If there is no taker under any of the above provisions, the intestate estate passes by default to the state of Nebraska.

Nebraska Intestate Succession Law Fun Facts

* Relatives of the half-blood inherit the same share as relatives of the whole-blood.
* Decedent's relatives conceived before his or her death, but born thereafter, inherit as if they had been alive at the time of decedent's death.
* Any person who fails to survive the decedent by 120 hours is deemed to have predeceased the decedent for purposes of intestate succession (which means that the person generally doesn't get a share of the decedent's estate). If it cannot be established by clear and convincing evidence that the person who would otherwise be an heir has survived the decedent by 120 hours, it is considered that the person failed to survive for the required period. However, these rules don't apply if the end result is that the state of Nebraska gets the intestate estate.
* Evildoers take note! Any person who feloniously and intentionally kills or aids and abets anyone to kill the decedent is prohibited from inheriting or otherwise benefiting from the decedent's death. The murderer is treated as having predeceased the decedent, thus automatically becoming ineligible to inherit.
* Nebraska's intestate succession laws, as well as other related laws, can be found in Title 30 of the Laws of Nebraska.

Copyright 2002 - 2005, CCH Tax and Accounting - A WoltersKluwer Company. All Rights Reserved.

http://www.finance.cch.com/pops/c50s10d190_NE.asp
 

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