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Reposting this to not get everybody lost in previously discussed details
We expect a eventual foreclosure sale of the deceased's home
No estate process has ever been opened to manage the estate.There is too much debt.
It appears the mortgaged home is in pre forclosure. Saw it online
We are sole heirs of the deceased's estate. We have abondoned it.
Can it ever be safe for us to make a offer at the expected eventual public foreclosure sale?
There is a lot of debt other than mortgages on the home
I would seek the advice of a real estate attorney. Are you the 2 brothers that are living in the house and your wife threw you out for giving him a car?
I would seek the advice of a real estate attorney. Are you the 2 brothers that are living in the house and your wife threw you out for giving him a car?
No, nothing like that. We, neither of us, ever lived there. We wouldn't live there
Police have arrested all the occupants of the home. Something about maintaining a public nuisance. There had been numerous arrests of individuals there over time. Police contacted us, as the only relatives of the deceased owner. before they took this action. They say the house is in bad shape.
I thought I might go over there when everybody's out, to see if there's anything to salvage. but now I just don't want to bother with it. I want to see what becomes of the home, but I don't have to have anything to do with it.
It could be income property, rented. We have our own house, no reason to move.
Worried about getting stuck with debts of the deceased homeowner.
First off I don't know why you never filed the estate. The heirs are never responsible for the debt of the deceased provided they are not on any mortgages or other debt. What occurs is that all debt is paid from the balance of whatever is left, house and contents sold. If it doesn't cover all of the debt too bad for them not you.
First off I don't know why you never filed the estate. The heirs are never responsible for the debt of the deceased provided they are not on any mortgages or other debt. What occurs is that all debt is paid from the balance of whatever is left, house and contents sold. If it doesn't cover all of the debt too bad for them not you.
Than why do it?
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