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inherited a house with a loan

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mrslunar

Member
inherited a house with a loan & LOTS of questions re: will

What is the name of your state (only U.S. law)? CA

we've recently inherited a house with a loan against it...the executor is delaying the probate process, I guess because she thinks that her portion of the inheritance could be affected by what is owed on the house.

The woman who is the executor was given all the "paid off" things in the will, we got the house. The will was written before the loan was taken on the house.

what happens to a home that has a loan on it??


EDIT TO ADD:
What is the name of your state (only U.S. law)? CA

My father in law passed away so now we're in a will situation.

His girlfriend is listed as the executor and thus is denying my husband and his brother the ability to view the will. If I understand the process right, once she puts it into probate, then it's public record? Is there a timeframe to put it into probate? And what if she puts it off for a long time?

She's stated that my husband and his brother have "no legal rights" without her. Is that necessarily true?

And, I just want to make sure I understand this right..probate is how the courts make sure the will is legal, right? Do we, then, need an attorney to follow it through or is that just useless?

Any tips we should know? And pitfalls to watch out for in this situation? It's a little contentious but not that bad, and everyone would just like to get everything settled and done with and move on with life.
 
Last edited:


cyjeff

Senior Member
What is the name of your state (only U.S. law)? CA

we've recently inherited a house with a loan against it...the executor is delaying the probate process, I guess because she thinks that her portion of the inheritance could be affected by what is owed on the house.

The woman who is the executor was given all the "paid off" things in the will, we got the house. The will was written before the loan was taken on the house.

what happens to a home that has a loan on it??
You sell the house and satisfy the loan with first monies.

Then, you check your own will to make sure that any material changes in your financial condition are addressed.
 

mrslunar

Member
thanks!
So, if we wanted to keep it, do we have to get a new mortgage?

And, the other question is**************..
The executor was left a trailer that is worth about 20 or 30K. It's paid off. Since the house isn't paid off, is there any way that the courts or the banks or whoever would say "You have to sell the trailer in order to settle the house loan"? I think that's what she's worried about.
 

seniorjudge

Senior Member
Q: So, if we wanted to keep it, do we have to get a new mortgage?

A: Ask the current lender.



Q: The executor was left a trailer that is worth about 20 or 30K. It's paid off. Since the house isn't paid off, is there any way that the courts or the banks or whoever would say "You have to sell the trailer in order to settle the house loan"? I think that's what she's worried about.

A: That answer may (or may not) be in the will; without knowing the exact terms of the will, no one here can answer that question.
 

mrslunar

Member
What specifically am I leaving out?

I don't know if this means the will isn't valid? But he just specified that the trailer go to the beneficiary and the house to go me and my husband. That's all. I think she's worried because the house was paid off when the will was made, but now it's not. We really don't want to boot her out of her trailer, of course, and would just like to take care of the house ourselves.
 

seniorjudge

Senior Member
Q: What specifically am I leaving out?

A: That answer may (or may not) be in the will; without knowing the exact terms of the will, no one here can answer that question.
 

mrslunar

Member
The answer doesn't appear to be in the will. It does not say "If the house needs to be paid off then sell the trailer".
 

mrslunar

Member
Were there any other assets besides the house and trailer?

There is also a truck, a brand new ford f250 which is paid, and another car that he bought for his girlfriend, but was kept in his name, but it's not like we want to screw her out of her car, either. But other than that, that's it. The will states specific belongings that he wants to go to people, but nothing that is of value.
 

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