What is the executors responsibilities?

[mmm9867]

What is the name of your state (only U.S. law)? Pa
I am trying to find out what the executor of an estate is responsible for. My mother in law passed away in November of 2007. Her will stated that the house she lived in was to be left to her four children. She named her youngest son as executor of the estate. My husband is the oldest son. My question is basically, does the youngest son get to make all the decisions regarding what happens to the house, or is it up to all four children, since it was left to all four of them. As the executor, isn't his responsibility just to make sure the decisions made are carried out. At this point in time, my husband and I live in this house, and we are paying the mortgage. We would like to assume the mortgage, and stay here, and the other 3 children do not want to live here. Do all four children have to agree to sell the house, or can the executor decide he is selling the house, no matter what the other 3 children want? I have tried finding this out in other forums, and don't seem to get any response. I am tired of the "for sale by owner" sign out front, and hearing my brother in law say " it's my house, I'm taking this, don't get rid of that..." There are old appliances out in front of the garage across the road, and the township supervisor stopped because the neighbors have complained about them, want them removed, as do my husband and I, and the youngest brother says "no one can take them if they are going to make money off of them, all money made from anything here has to go into the estate account to pay outstanding bills his mother had. It's just all very frustrating, and all we want is to be able to assume the mortgage, and stay here, and for the youngest brother to leave us alone. Any information would be greatly appreciated. Thankyou.What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

 

[anteater]

...and all we want is to be able to assume the mortgage, and stay here, and for the youngest brother to leave us alone...

The basic question.... Are you and husband prepared to/financially capable of buying out the shares of the other children?

 

[curb1]

mmm9867,
This is not a big problem. All you have to do is pay the other siblings their part of the equity in the house and then get it re-titled. What is the value of the house? How much is the mortgage? Keep in mind that your husband would be entitled to 1/4th of that equity.

 

[anteater]

mmm9867,
This is not a big problem. All you have to do is pay the other siblings their part of the equity in the house and then get it re-titled. What is the value of the house? How much is the mortgage? Keep in mind that your husband would be entitled to 1/4th of that equity.

Unless the equity from the house is needed to pay MIL's debts.

(I looked at some of this poster's other posts. I get the feeling that the paying "the other siblings their part of the equity..." part might be difficult. Thus, the odd phrasing about just wanting to assume the mortgage.)

 

[Dandy Don]

Has the will been officially probated?

Was the deed/title officially changed during the probate process to reflect the names of the heirs/siblings? If that wasn't done then it needs to be done next.

What would the home sell for and how much is left outstanding on mortgage payments due?

If a majority of the siblings agree to a sale of the home, they can force a sale.

 

[mmm9867]

I know that there has to be an easy way for this to work out for everyone, but my brother in law seems to be making it difficult. That was the reason for my question, what is he, as executor, responsible for? I get the feeling that he believes that whatever happens is up to him. For instance, can he call my husband and say, "so and so who looked at the house has made an offer, and i'm going to accept it, so you guys will have to move out." and decide that himself, or would he have to talk with the other 3 siblings, and all of them accept any offer made on the house, and if not, would he not be able to sell it?
There have been so many things that I have heard, that I am very confused. We were told that we would be able to assume the mortgage, and continue to pay for the house, but it would legally be only 25% ours, 25% belonging to each of the other 3 siblings, and if we ever decided to sell it, it would be split 4 ways. We were acceptable to that, as long as since we were paying the mortgage, we were able to make improvements and such, without needing the others approval every time we did something...We are also told that we could assume the mortgage, and would have to buy the other 3 out...we were told that if the land could be sold, we could keep the house with the few acres it's on, and the outstanding bills could be paid with what they made off the sale of the land, then any remaining money would be split between the other 3 siblings, because we were getting the house, but then that changed, the mortgage company said if they sell the land, once the estate is settled, they would want any remaining money towards a paydown on the mortgage, so there would be nothing for the other three to split, we would get the house, and they would all get nothing. Then the youngest brother said that he would just assume the mortgage himself, and let us continue to pay "rent" to him, and he would put so much of that into an account towards buying the other three out. I have no idea what will happen, but basically, I just want to know what rights my husband has as far as knowing what his brother is doing, and who makes the decisions, all of them, or the executor. My husband isn't the type to question what his brother is doing, he feels that he will do what is best for everyone involved. I don't see it that way. I really don't know anything thats going on, I hear bits and pieces here and there, get to know what my husband tells me, and am left to assume for the most part. My in laws loved this house, and just wanted it to stay in the family. If I were in a similiar situation with my siblings, and I already had a place to live, and no desire to live in my mothers house, I would want the sibling who wanted to be there to have it, and would not care about being bought out. I would gladly sign off on any rights to the house. It's a shame the problems things like this cause.

 

[seniorjudge]

Yes, barring something you haven't told us, the executor could sell the place (and you could buy it) and then pay all the bills and split up whatever is left.

 

[mmm9867]

(I looked at some of this poster's other posts. I get the feeling that the paying "the other siblings their part of the equity..." part might be difficult. Thus, the odd phrasing about just wanting to assume the mortgage.)[/QUOTE]

You are correct, that would be difficult, we do not have money saved up and put away. as far as saying we just want to assume the mortgage, the other three siblings can not afford to make the payment, nor do they desire to live here. We are making the payment, struggling to do so, but doing it just the same. The fact that my husbands parents loved their home as much as they did, as well as the fact that we love it here, we finally have room for our family, has made us work even harder at making that payment each month, and we would gladly continue to do so. I guess the thing that bothers me is that someone can be more concerned with the money they can get out of something , then with the sentimental value of it. Each of the other three siblings have homes, two own their own, and all are doing fine. They all have small families, and do not need a house of this size, yet we do. I don't know why it is so hard for the other three to say, "we don't need or want the house, you guys do, so you stay there, at least it stays in the family. If you ever sell it, since it was initially left to all four of us, we'll split the money," and everyone will be happy. Can't they legally sign off or something. Not that they will, I'm just venting, I guess. Just wishing it could be simpler then it is.

 

[mmm9867]

Has the will been officially probated?

Was the deed/title officially changed during the probate process to reflect the names of the heirs/siblings? If that wasn't done then it needs to be done next.

What would the home sell for and how much is left outstanding on mortgage payments due?

If a majority of the siblings agree to a sale of the home, they can force a sale.

I don't know if the deed/title was changed to reflect the siblings names, the mail from the mortgage company still comes to this address, with their mothers name on it, c/o the youngest brother, and we keep it for him until we see him.
I believe they had one offer over what is left outstanding of the mortgage, but it wasn't enough over whats left to settle the estate, and have anything left to split, at least that's how it was told to me. The house does need work, and I don't know if it is worth what is still owed to the mortgage company. My mother in laws outstanding bills (credit cards, past due bills and such) is less then $20,000. My brother in law said that he has to take care of that first. What happens if there is not enough money in the estate account to pay everyone who wants their money? I guess I'm thankful that my husband wasn't named executor, it seems like a big headache to me.

 

[curb1]

Considering what you have told us, the executor is right. The house needs to be sold to the highest bidder. This should be done as soon as possible. If the highest bidder is you and your husband, then you can continue living in the house. If not, then you need to move and get the estate settled. You will need to find a place that you can afford, perhaps with money from the disbursement of the estate.

 

[anteater]

You have a lot stuffed into those latest posts. Let's try to give you a few generalized answers:

1) The estate's personal representative has a responsibility to pay the deceased's legitimate creditors before the heirs receive anything. If that means selling the house, then the PR will have to sell the house.

2) If there is not enough money (including any money realized from selling the house) to pay the expenses of administering the estate and to satisfy the creditor claims, then the creditors get paid prorata.

3) In PA, title to real estate passes to the heirs upon the owner's death. But that is subject to the powers granted to the personal representatvie and to all court orders. In theory, the heirs would need to approve selling the house. However, if one or more of them object, the personal rep simply gets the court to order the sale. And, if the conditions in 2) apply, then that's going to be an easy one for the court.

4) The other heirs can disclaim their interest if they so desire. But, once again, if the house must be sold to satisfy debts, that does little good.

 

[mmm9867]

You have a lot stuffed into those latest posts. Let's try to give you a few generalized answers:

1) The estate's personal representative has a responsibility to pay the deceased's legitimate creditors before the heirs receive anything. If that means selling the house, then the PR will have to sell the house.

2) If there is not enough money (including any money realized from selling the house) to pay the expenses of administering the estate and to satisfy the creditor claims, then the creditors get paid prorata.

3) In PA, title to real estate passes to the heirs upon the owner's death. But that is subject to the powers granted to the personal representatvie and to all court orders. In theory, the heirs would need to approve selling the house. However, if one or more of them object, the personal rep simply gets the court to order the sale. And, if the conditions in 2) apply, then that's going to be an easy one for the court.

4) The other heirs can disclaim their interest if they so desire. But, once again, if the house must be sold to satisfy debts, that does little good.

Thankyou, that tells me more then anything I have been able to find out so far. I understand that the house may need to be sold to settle the estate, take care of the outstanding bills and such...I have always understood that part. We have been hoping that someone would be interested in just buying the land, so that the outstanding bills could be paid, and the rest split between the other siblings, but since the mortgage company has said they want any remaining money left from the sale of the land, after settling her bills, I don't think that is going to happen now either. We had a neighbor interested in the land, it bordered his, and someone suggested taking his offer, but seeing if he would be willing to pay them $15,000.00 in cash to be split between the other 3 kids, with the balance of his offer actually being offered on paper, legally, so that the mortgage company got their money after the bills were settled, and the 3 kids got something to split, without the mortgage company knowing about it. I believe he opted against it, not wanting to chance possibly getting in trouble, doing it that way. I don't know if he could have gotten in trouble, but I guess I can't blame him. All I can do is wait and see what happens, and again, thankyou for your response.

 

[seniorjudge]

You (or me or anyone else) will be able to buy it.

 

[Jubybean]

executor

My husband's sister is executor and she tried to take control of everthing. There are 5 silblings. You situtation is a lot like my husand's. It went as far as to get the estate court supervised. Just had a deposition a little over a week ago to get her out of being executor and my other sis-in-law to step up to the position. His sister,the executor,lied through the whole deposition. Don't know what will happen so we just have to wait. This situation can be a soap opera!!! Will be interested to see how things turn out for you.