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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Foreclose on House held in Estate?? Posted by Rick Harmon on April 18, 2002 at 12:00 AM In Reply to: Foreclose on House held in Estate?? posted by Mark on April 18, 2002 at 8:59 AM : I am the administrator of a house held in the estate of my late father, who died without a will. My brother-in-law and sister lived in the house for five years after my father's death. My father's spoken wish was that this sister have the house...but this wasn't documented in a will. : During the time my father was alive, he co-signed a loan to my bro-in-law, with the house as collateral. My B-I-L never made payments and the house went into foreclosure. In order to prevent my sister and kids from hitting the street, I purchased the original note, making me the primary lienholder on the property. My B-I-L has not made any payments to me either. My sister has since legally removed him from the house. : Here's the knot: One sibling (of 5) in the estate proceedings has gotten into financial trouble and wants to force a sale of the house instead of accepting a buyout from the sister living in the house. : QUESTION: I want to prevent a forced sale. I am the administrator of the estate, AS WELL AS a the principal lienholder of a note now 6 months in arrears. Can I foreclose and prevent further BS and work out arrangements with siblings after foreclosure? : Hope this makes sense. It's starting to fry my mind. Mark, it would be helpful to know what State your probate matter concerns. What you've described is not an uncommon situation for us. Why don't you visit our site (Closeprobate.com) and study the article on foreclosure of probate real estate. As to the dissenting heir/beneficiary, California has some interesing laws that, in effect, says that the majority owners of a trust deed rule the actions of the others. Not knowing what State you're in, I can't predict what your position might be. Follow Ups: Re: Foreclose on House held in Estate?? Mark 12:26 AM, 04/18/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I am the administrator of a house held in the estate of my late father, who died without a will. My brother-in-law and sister lived in the house for five years after my father's death. My father's spoken wish was that this sister have the house...but this wasn't documented in a will. : : During the time my father was alive, he co-signed a loan to my bro-in-law, with the house as collateral. My B-I-L never made payments and the house went into foreclosure. In order to prevent my sister and kids from hitting the street, I purchased the original note, making me the primary lienholder on the property. My B-I-L has not made any payments to me either. My sister has since legally removed him from the house. : : Here's the knot: One sibling (of 5) in the estate proceedings has gotten into financial trouble and wants to force a sale of the house instead of accepting a buyout from the sister living in the house. : : QUESTION: I want to prevent a forced sale. I am the administrator of the estate, AS WELL AS a the principal lienholder of a note now 6 months in arrears. Can I foreclose and prevent further BS and work out arrangements with siblings after foreclosure? : : Hope this makes sense. It's starting to fry my mind. : Mark, it would be helpful to know what State your probate matter concerns. What you've described is not an uncommon situation for us. Why don't you visit our site (Closeprobate.com) and study the article on foreclosure of probate real estate. As to the dissenting heir/beneficiary, California has some interesing laws that, in effect, says that the majority owners of a trust deed rule the actions of the others. Not knowing what State you're in, I can't predict what your position might be. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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