Hello and thank you for contacting Just Answer. I am an expert here and I look forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification.
You could try and rent it but technically the house belongs to the estate and any monies that were paid would belong to the estate. Realistically if you don't probate the estate and you are the only heir then it is unlikely anyone would ever know but, again, technically any rents collected would belong to the estate.
Hello, thank you for your answer. The estate is not worth probating as it has negative equity. So the only persons eligible to receive the rent monies would be the only 2 heirs which is my husband and his sister. Are there problems that we could face down the road if the house is never placed in probate and we had been collecting rents? Can the mortgage company sue us?
The mortgage company could sue for the rents since they are a debtor of the estate and the rents would be assets of the estate. It isn't likely to happen, but it could.
Do we have a legal obligation to advise the renters that in the future, the home will be in foreclosure?
You would, since a foreclosure could affect them and they could have tomove suddenly.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).