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CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10244
Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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My mother bought a house but has 27,000.00 instrest due on

Customer Question

My mother bought a house but has 27,000.00 instrest due on her home. The principle has been paid out completely. There are no routine bills, Can pay every other month or every 3 or 6 months or once a yr. No set fee.No interest growns it sits out there until called. can be 5 yrs can be 7 yrs. My mohter passed in 2012. My mother had 5 children at the time of her death. Her 2 oldest sons she addressed by leaving them $20.00 each. Me & a brother he passed in June 2016 Plus a brother who has schizophrenia & is at a V.A. clinic seeking help were all named on home. I have paid taxes last 3 yrs since my mother passed. How can I gain sole ownership on title then pay interest off because there is no way in H--- I would pay $27,000.00 without being 100% sure that I would own the property out right soley. an I gain that by paying taxes 4 more yrs & taking my bank Cashiers check to an attorney to file for owership or should I let the taxes go unpaid 2 to 3 yrs & buy cheaper at courthouse steps? It looks like to me Farmers Home which is an goverment agency would be glad to get their $27,000 & seeing that I been paying taxes also would be more than happy to deed the title over to me for $27,000 o. What do you say?????
Submitted: 11 months ago.
Category: Real Estate Law
Expert:  CalAttorney2 replied 11 months ago.

Dear Customer,
Thank you for using our forum. My name is ***** ***** I hope to assist you today.

Expert:  CalAttorney2 replied 11 months ago.

Paying the $27,000.00 in interest will not transfer the ownership interest to you from your co-owners.

You say that the title was transferred to you and your two siblings (one of whom died (so his estate would have an interest in that 1/3 and it would be distributed according to his estate (will, trust, or intestate succession)).

If the money is not paid, the bank can foreclose on the property, and it will be sold, however, whether or not you are successful in bidding on the property, whether or not you and your co-owners receive any surplus from the sale price (depending on the value of the property, it may sell for greater than the cost of the current lien plus the cost of sale)

However, if you want to pay the interest, but come to an agreement with your co-owners on repayment for your money paid (both in the past and for this expense) under what is called a "property ownership agreement" that would probably be a prudent course of action - if you cannot reach a reasonable agreement between the three of you (you, your sibling, and your deceased sibling's estate), you may want to look into utilizing a mediator to help you come up with a "mutually agreeable resolution" (a mediator acts as a third party neutral to help parties resolve a dispute - they do not represent any of the parties individually, but usually this will be an attorney and can help you draft a workable property ownership agreement).

You may find that your co-owners are not interested in the property and are willing to relinquish their property ownership to you, but this does not happen automatically, and you cannot force them to do so (again, paying the debt does not give you sole title to the property).

Customer: replied 11 months ago.
My mother died with title still in her name. However she named me in the will along with 2 siblings. One sibling died & he has no wife & children . Te other brother is at Veterans center trying to get help for his schizophrenia, & newly diagnoised diabetes..So I am the only one who pays property tax if that makes no difference I will not pay anymore. Yes a mediator sounds good. But I am the only one with interest. The one who is deceased & oter is out of his mind & sick. The oldest two were adknowledged in will with $20.00 each. They have their own homes & no interest & have no rites. So I wont waste any money if farmers Home won't appreciate getting their money.
Expert:  CalAttorney2 replied 11 months ago.

Dear Customer,

Is there another question that you have at this time?

As I noted above, you appear to own a property as a co-owner with two other owners: this would be You, Your sibling (who you say is dealing with mental health issues at this time), and Your deceased sibling's estate.

You cannot divest your co-owners of their property interest without their consent, but it is possible to negotiate a buy out with them. You can try, and they may be willing to do so. Your sibling suffering with mental illness may require his conservator or guardian to represent his interests in this negotiation if he is legally conserved.

But if you decide to default on the mortgage and allow the bank to foreclose you can do that as well. It is possible you could end up purchasing it in a foreclosure sale, but understand this is a risk (other buyers may be interested in spending more than you have cash on hand, or are willing to pay).

Also be aware, if the tax debt becomes delinquent, the tax collector can pursue any of the three co-owners separately (this is a "joint and several liability") and as you appear to be the most solvent of the co-owners, you very well may end up being the one they pursue for this debt.

Another resolution you may consider in your mediation/negotiations would be selling the property. You can force a sale of the property in what is called a "partition action" - this is not a very cost effective way of dissolving a co-ownership of land, but if you cannot reach an agreement and you just want out, this is a way to do it.

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