Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

My mother passed away 3 yrs. ago May...she had a reverse…

Customer Question
My mother passed away 3...
My mother passed away 3 yrs. ago May...she had a reverse mortgage on her home, and of course, now the loan has become due, and now the property is in foreclosure. Myself my husband are still living in the property. There are 7 children that area part of my mom's estate... (my brother passed away October of 2014.) Anyway one of my brother's was named administrator of the estate...(there is a will that has not been probated). There is the possibility of a short sale...however, the bank is saying that title has to be conveyed to my brother for this to be possible...we already have copy ofexisting title which was in our parents name, (both deceased, father 2005) How doesmy brother go about having the title conveyed?
Submitted: 2 years ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 7 minutes by:
2/29/2016
Real Estate Lawyer: Ray, Lawyer replied 2 years ago
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 46,971
Experience: Texas Attorney for 30 years dealing in real estate
Verified

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.

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Ray, Lawyer replied 2 years ago

NJ fiduciary deed

https://www.pdffiller.com/3065364-NJ-SDEED-6pdf-Nj-fidiuciary-deed-form-

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.

Ask Your Own Real Estate Law Question
Customer reply replied 2 years ago
I decided to seek legal counsel....but the motgage company said we did not need to Probate the will, why is that?
Real Estate Lawyer: Ray, Lawyer replied 2 years ago

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..

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Ray, Lawyer replied 2 years ago

Thanks again and the best to you here.It is hard here with family involved no doubt.

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Ray, Lawyer replied 2 years ago

Counsel is a great idea to protect your interests and get your share that you are due.

Ask Your Own Real Estate Law Question
Customer reply replied 2 years ago
the mortgage company was correct in stating that the will does not need to be probated, for title to be conveyed to my brother the Executor/Administrator of estate...I am not worried about my brother. .we have someone ready to purchase house in short sale.
Real Estate Lawyer: Ray, Lawyer replied 2 years ago

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.

Ask Your Own Real Estate Law Question
Was this answer helpful?
Ask Ray Your Own Question
Ray
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 46,971
46,971 Satisfied Customers
Experience: Texas Attorney for 30 years dealing in real estate

Ray is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

11,126 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

7,785 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

46,971 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,925 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
Husband tricked me into signing a quit claim on a house he
Husband tricked me into signing a quit claim on a house he bought with marital money. Will this prevent me from getting any. Of the down payment or equity in the house. we are living separately and di… read more
Dimitry Esquire
Dimitry Esquire
Attorney
Doctoral Degree
5,526 satisfied customers
Can my name be added to a deed without my consent
Can my name be added to a deed without my consent… read more
lwpat
lwpat
Doctoral Degree
256 satisfied customers
My ex-husband died. We still owned a home together and the
My ex-husband died. We still owned a home together and the deed still said "community property with rights of survivorship." He left a will leaving his half to my daughter, so after probate is done, s… read more
dkennedy
dkennedy
Attorney
Juris Doctorate
27 satisfied customers
In Ohio, a homeowner owes the mortgage banks $144,000. 3
In Ohio, a homeowner owes the mortgage banks $144,000. 3 Judgment Creditors - credit card creditors - have liens attached to the property of $35,000. One non-mortgage creditor “junk debt buyer” of a f… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
How is the statue of limitations for a second mortgage lein
Hello, how long is the statue of limitations for a second mortgage lein that has been dormant for over 12 years in the state of Georgia? … read more
Damien Bosco
Damien Bosco
Attorney
Doctoral Degree
4,482 satisfied customers
Real estate mortgages, I got a mortgage with an adj rate its
real estate mortgages , I got a mortgage with an adj rate its the 1 year libor plus 2.25 percent, is this ok or would the treasury index been better ?… read more
Lori
Lori
Juris Doctor
1,303 satisfied customers
Give me a sample mortgage note and document for the State of
Please give me a sample mortgage note and document for the State of Florida Broward County.… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
On the mortgage or deed but have been paying the mortgage
my name is ***** ***** the mortgage or deed but have been paying the mortgage frm sept.2015 -apr,2018 I don't have I know legal rights but I still want to know if there is anyway that can protect me … read more
Attyadvisor
Attyadvisor
Doctoral Degree
7,808 satisfied customers
On a reverse mortgage if the spouse is not of age and you
On a reverse mortgage if the spouse is not of age and you take her off the title for the loan, Is it ok to put her back on the title when she is of age… read more
Ray
Ray
Lawyer
46,971 satisfied customers
MORTGAGE QUESTION: When mortgage lenders make loans to
MORTGAGE QUESTION: When mortgage lenders make loans to individuals to purchase a condominium/home where there is a Condominium Association / Home Owners Association (HOA), do they typically require be… read more
Lori
Lori
Juris Doctor
1,303 satisfied customers
Who are "beneficiaries of mortgages or deeds of trust" in
Who are "beneficiaries of mortgages or deeds of trust" in the context of condominium property? Such are required to sign any amendment to the "Enabling Declaration for the Establishment of a Condomini… read more
socrateaser
socrateaser
1,031 satisfied customers
My mortgage company is raising my mortgage saying I do not
My mortgage company is raising my mortgage saying I do not have enough money in my escrow account. If I pay the escrow reserve amount in full the mortgage company is raising my mortgage payment anyway… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,341 satisfied customers
What does foreclosure redeemed mean?
On my credit report it says foreclosure redeemed. I had a problem with a bank about not honoring my credit protection on my line of credit that I had been paying on for 3 1/2 years. I went to Court wi… read more
Maverick
Maverick
Doctoral Degree
6,135 satisfied customers
My ex-boyfriend is threatening to sue me for money he feels
My ex-boyfriend is threatening to sue me for money he feels I owe for a downpayment on a property he purchased but that we moved in together and lived in. While living in the property with him I was p… read more
ScottyMacEsq
ScottyMacEsq
Doctoral Degree
17,837 satisfied customers
Can a property be titled to a residential land trust in Michigan
Can a property be titled to a residential land trust in Michigan? I want to purchase a property for cash and hold title in a residential land trust instead of my name. Please cite the Michigan Compile… read more
Katherine K
Katherine K
Doctoral Degree
229 satisfied customers
My ex wife obtained a loan modification without my signature?
My ex wife obtained a loan modification without my signature? Is that legal in Florida?… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
Is Ohio a no-recourse state for mortgage forclosure?
Is Ohio a no-recourse state for mortgage forclosure?… read more
JBaxLaw
JBaxLaw
Attorney
Doctoral Degree
8,080 satisfied customers
Can I build a house on leased land
Can I build a house on leased land?… read more
lwpat
lwpat
Doctoral Degree
256 satisfied customers

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).

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).

Show MoreShow Less

Ask Your Question

x