Estate Law Questions? Ask an Estate Lawyer.
Hello and thank you for allowing me the opportunity to assist you.
Was your father unmarried?
Since your father was not married when he passed, and since you are an only child, and since there was no will, then you will inherit all of your father's assets.
Even the house he just bought.
If your father just bought a house and has a mortgage, then you can take over payments on the mortgage and keep the house, even though your name is XXXXX XXXXX the mortgage.
that's supposed to be "not on the mortgage"
If you do not wish to pay the mortgage, however, then the house will need to be sold.
The mortgage would need to be paid from the proceeds, and if there is any surplus, then you would inherit that.
Does that answer your question(s)?
Please let me know if you need any clarification. Also, though I didn't mention it earlier, please accept my condolences on the loss of your father.
Will I have to go through probate on any of this because i live in mississippi
Yes, unfortunately, you will need to go through probate if the assets in the estate are more than $50,000, which is likely the case if your father owned land and two houses.
Through the probate process, the real estate can be transferred to your name.
I will need to go back to the lawyer he used in closing to get this started. He closed on the house last Friday. I had to put him in the hospital on Saturday and he died on the 26th
Oh, I'm so sorry. Yes, I would go back to that attorney to see if he can help you open probate and move forward with this.
Thanks for you help. I really want this house and don't want to loose it. My credit will not let me get the loan.
I see. Fortunately, federal law allows you to keep the house without refinancing it in your name so long as you make the mortgage payments.
That will work! I will get to the lawyer this week. thanks again.
You're quite welcome. Thank you for using our service!
One more question. You said the mortage would need to be paid from proceeds. I'm not real clear what you mean?
VAMD,Esq. My dad had a will I need not know about. I don't have the orginal but I have the copy the lawyer who drew it up had. Does this help?