Estate Law Questions? Ask an Estate Lawyer.
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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.