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Discontent Asked February 2016

I am Beneficiary, Successor, to property left. What can I do to seal title?

I was given a house from a dear friend who passed X-mas morning 2015. Now the in-law (male) wants the property, as the 3 adults minus one does not. I was DPOA, but since his passing this in invalid. I was his companion, care giver by nature, and now I am in charge of this last task. I want the house, it is in 2nd mortgage and the taxes and house payment are due. I want to know where I stand? Do I have to sell it? Do I have to share it with them, though they were all disinherited?

EXPERT John L. Roberts Feb 2016
Your questions cover many areas of Probate and real estate law, and you can’t get good answers until you consult with an attorney in your state who understands all the circumstances.

You say that you were given the house. How? In a Will? Trust? Life Estate Deed conveyance? You also mention that there is a 2nd mortgage and back taxes. Are you setting yourself up for financial problems by accepting ownership of the property? A careful look at the encumbrances (debts) on the real estate is required, before you make a decision about what to do next.

If the property is encumbered by substantial debt, it may not be worth it for other people to contest your ownership, if you do have claim for ownership. But you won’t know where you stand until you get professional legal advice.

GardenArtist Feb 2016
What does the will (or trust) provide? That's (they are) the governing document(s), unless your friend deeded the house to you prior to passing.

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GardenArtist Feb 2016
Also, you wrote you're "successor" - successor trustee? What kind of "successor" are you? I'm not really sure what you mean.

pamstegma Feb 2016
You wait for the probate to be completed. Even a small estate with no Will has to have a fiduciary or executor. The person who executes the Will must first wait for all claims against the estate. In NY the waiting period is 7 months. The executor must pay all bills presented, including that mortgage and taxes. The bank holding the mortgage will either foreclose or agree to a "short sale".
You say he gave you the house, but you don't say HOW he gave you the house.
A written promise? A quitclaim? An addendum to his Will? He just let you move in with no paperwork? You may need a lawyer to sort this out.

pamstegma Feb 2016
If by "seal" you mean getting it notarized, it is too late for that. Sorry.

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