NeedToKnowMore
Junior Member
Apex North Carolina
This is mentioned in an answer on another site:
"You are correct that where there are no assets in his name, there is nothing to administer and administration proceedings are not necessary."
Could this apply where an asset is foreclosed, forcing it out of the estate?
I'm trying to help my cousin with his situation. His dad died in 2004 without a will and my cousin's been living in the Dad's house ever since.
The Dad borrowed money years ago from a friend. The Dad agreed to let the friend put a lien on the house to secure the loan. Now the Dad's friend is foreclosing to get paid back. According to my cousin, his Dad died with no debts.
There's still a mortgage on the house, but the Dad's friend says he'll pay that and sell the house to get his loan repaid.
I was reading where it says assets in an estate can't be sold without getting permission, but I also read a foreclosure is a legally forced sale.
Can the foreclosure be blocked because the house is still owned by an estate that hasn't been closed yet?
I was advised to consult and attorney. My cousin can't afford to hire an attorney. I'm not asking for advice. Just some key information to determine if helping my cousin will involve lots of complexity and time.
This is mentioned in an answer on another site:
"You are correct that where there are no assets in his name, there is nothing to administer and administration proceedings are not necessary."
Could this apply where an asset is foreclosed, forcing it out of the estate?
I'm trying to help my cousin with his situation. His dad died in 2004 without a will and my cousin's been living in the Dad's house ever since.
The Dad borrowed money years ago from a friend. The Dad agreed to let the friend put a lien on the house to secure the loan. Now the Dad's friend is foreclosing to get paid back. According to my cousin, his Dad died with no debts.
There's still a mortgage on the house, but the Dad's friend says he'll pay that and sell the house to get his loan repaid.
I was reading where it says assets in an estate can't be sold without getting permission, but I also read a foreclosure is a legally forced sale.
Can the foreclosure be blocked because the house is still owned by an estate that hasn't been closed yet?
I was advised to consult and attorney. My cousin can't afford to hire an attorney. I'm not asking for advice. Just some key information to determine if helping my cousin will involve lots of complexity and time.