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deed transfer

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cndygrl32

Junior Member
What is the name of your state? pennsylvania

My mother passed away in Nov, '07. She had a will that states my brother and I inherit her house equally. He wants to keep the house, with which I have no issue. However, to buy my out he said he needs to have the deed in his name to get a loan. I'm worried that once the deed is in his name he'll just keep the house and not pay me my share. Does anyone know the proper procedure for this? Please help.
 


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BlondiePB

Senior Member
cndygrl32 said:
What is the name of your state? pennsylvania

My mother passed away in Nov, '07. She had a will that states my brother and I inherit her house equally. He wants to keep the house, with which I have no issue. However, to buy my out he said he needs to have the deed in his name to get a loan. I'm worried that once the deed is in his name he'll just keep the house and not pay me my share. Does anyone know the proper procedure for this? Please help.
Click to expand...
Do not sign that deed until you are paid.
 
T

Texas Pooh

Member
It should no different than a conventional house purchase - sign the deed on funding.

It sounds to me like brother is attempting to get a home equity loan against the total value of the property, not a mortgage in order to purchase.

Blondie PB has offered the best advice!
 
N

nextwife

Senior Member
cndygrl32 said:
What is the name of your state? pennsylvania

My mother passed away in Nov, '07. She had a will that states my brother and I inherit her house equally. He wants to keep the house, with which I have no issue. However, to buy my out he said he needs to have the deed in his name to get a loan. I'm worried that once the deed is in his name he'll just keep the house and not pay me my share. Does anyone know the proper procedure for this? Please help.
Click to expand...
I agree with the others. I did closings for 20 years. BUYERS (and he is BUYING a 50% interest from you) do NOT already have the house signed over to them when they go to closing and close on their purchase money mortgage. This is BS. There is no reason a loan cannot be executed at the closing simultaneously with the mortgage closing.
 
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