What is the name of your state? Tennessee
My Dad left no will, and my brother is starting to gather info. on how to proceed with probate and possibly become the Administrator:
1) Is it law in Davidson County (Nashville) that he MUST use a lawyer, or can he just file the papers himself?
2) There was a "reverse mortgage" on the house, and my brother already contacted the mtg. co. They want to send out an apprasier ASAP. They told him that they will "come after the house" to get their payoff in 3-6 mos. How can they do this? Isn't there a set time that other creditirs have to file claims first? If the house appraises at more than the payoff, is the EQUITY considered to be an asset to pay off his other unsecured creditors?
We just want to know that if someone calls tomorrow to offer to buy the house at the payoff price only , can the other creditors "force" an auction or another sale thinking that they can get more for the house so they (not just the mtg. co.) can be paid??What is the name of your state?
My Dad left no will, and my brother is starting to gather info. on how to proceed with probate and possibly become the Administrator:
1) Is it law in Davidson County (Nashville) that he MUST use a lawyer, or can he just file the papers himself?
2) There was a "reverse mortgage" on the house, and my brother already contacted the mtg. co. They want to send out an apprasier ASAP. They told him that they will "come after the house" to get their payoff in 3-6 mos. How can they do this? Isn't there a set time that other creditirs have to file claims first? If the house appraises at more than the payoff, is the EQUITY considered to be an asset to pay off his other unsecured creditors?
We just want to know that if someone calls tomorrow to offer to buy the house at the payoff price only , can the other creditors "force" an auction or another sale thinking that they can get more for the house so they (not just the mtg. co.) can be paid??What is the name of your state?