How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Barrister Your Own Question
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 36240
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
19958803
Type Your Legal Question Here...
Barrister is online now
A new question is answered every 9 seconds

My mother passed in 1/15/2015 I'm the oldest of 4. We

Customer Question

Hi, my mother passed in 1/15/2015 I'm the oldest of 4. We promised my mother we would keep the family house in the family. I've been paying the mortgage on the house. now it's tax time I need to know what to do
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: North Carolina
JA: Has anything been filed or reported?
Customer: No
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 4 months ago.
Category: Legal
Expert:  Barrister replied 4 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

.

Is the house still in mother's name or has her estate been settled and the property deeded over to the children?

.

What taxes are you referring to?...property taxes?

.

Who is using the house currently?

.

.

thanks

Barrister

Customer: replied 4 months ago.
No the property is in the estate of Georgia Marshall. Myself and 1 sister is living in the house.
The interest paid on the mortgage
Expert:  Barrister replied 4 months ago.

Ok, if the house is owned by the estate, then only the estate could claim any mortgage interest deduction on its taxes against any income since the loan would be reported under your mother's SSN and it is her estate that will receive a 1098

.

In order to be able to claim that interest, someone will have to settle her estate so that the property is transferred out of the estate to the children as legal owners so they can then get all the benefits of legal ownership..

.

.

thanks

Barrister