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Are you simply asking how the sale proceeds get distributed according to estate laws after the estate pays off the reverse mortgage amount that is owed?
If so, did your father have a will?
I guess I'm asking how to proceed once the reverse mortgage is paid off. How are the proceeds distributed to my sister and myself? Yes my father did have a will. My sister and I are his only 2 surviving children.
Explaining the step by step process required by state law is complex and really beyond the scope of this website. I'll opt out and perhaps another expert will be able to assist you.
Is the property still considered in probate, even though I have completed the required documentation etc with the surrogate court last August? As far as I know, I do not have a probate referree since all those forms were completed.
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