Real Estate Law
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Hi and welcome to JA.Ray here to help you today.
He would need probate here for both parents.As administrator/executor he has the power to deed the property with court's approval to himself.He would also need to pay off the reverse mortgage otherwise the lender forecloses.
If he can show them that he has opened probate for both parents then they may give him more time.But the lender here does not have to wait, you would have to agree to pay off the reverse note to keep the property long enough to sell it.
But the administrator/executor would transfer title with court approval by a fiduciary deed from himself as grantor to himself as grantee.
He needs court approval to do this, the court where probate has been or will be opened.You need a local probate lawyer if you want to save the house here, time is running out.
NJ fiduciary deed
You are looking at two probates one for each parent if both names were on the property.
I appreciate the chance to help you today.I am sorry for your loss of parents.
Well the problem here with signing it to brother is that he then owns it, so you have to decide if you trust him.And if he deceases while all of this is going on his estate takes it.So signing it over instead of probate here has risks itself.I am worried about your interests, the bank likely is not.Thats your judgment here about whether to skip probate.With probate there is a judge overseeing everything to make sure no one gets a short stick..
Thanks again and the best to you here.It is hard here with family involved no doubt.
Counsel is a great idea to protect your interests and get your share that you are due.
Yes the brother executor can sign here in a sale of the property.It would not be a problem.If the title company is ok with it then it is not going to be a problem.
Thanks again and good luck with the sale here.