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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Probate issues Posted by Gursel on June 20, 2009 at 2:32 PM Hi, Met with an "owner" of a property in NJ today. Original owner took title to the property as a widow in 1960 and died testate in 2005, survived by two daughters and a son. She devised the property as follows, "one half to my granddaughter Alice, with her mother Mary, acting as guardian concerning all mattters of this real estate; one quarter to my son John, and one quarter to my daughter Joan." Alice died intestate in 2006 survived by a son Joe. Mary, the "owner", lives in the subject property with her grandson Joe. John is alive and, according to Mary, willing to cooperate. Joan died intestate in 1990 survived by a son, George, who is in prison for drug dealing and also supposedly willing to cooperate. The will was probated in 2006 and letters were issued to an unrelated third party who died in 2007 without taking any action in this matter and nothing else has been done since. The catalyst is a 15K lien, the only encumbrance on the property, about to start foreclosure, and the "as-is" value of the property is abot 90K. I made her an offer for "something other than cash" that should cost me about $16K, with special thanks to Rick Harmon, and she's thrilled with it. Your thoughts about what needs to happen now at Probate Court and how long that would take. Is the involvement of a minor, Joe, and issue? How would you do this deal? I appreciate your thoughts. Gursel Follow Ups: Thank you Rick and Kristine Gursel 7:16 PM, 06/21/09 (1) Re: Thank you Rick and Kristine Kristine-CA 8:39 PM, 06/21/09 (0) Re: Probate issues Kristine-CA 11:46 AM, 06/21/09 (0) Re: Probate issues Rick, the Probate Guy 8:21 AM, 06/21/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hi, : Met with an "owner" of a property in NJ today. : Original owner took title to the property as a widow in 1960 and died testate in 2005, survived by two daughters and a son. : She devised the property as follows, "one half to my granddaughter Alice, with her mother Mary, acting as guardian concerning all mattters of this real estate; one quarter to my son John, and one quarter to my daughter Joan." : Alice died intestate in 2006 survived by a son Joe. Mary, the "owner", lives in the subject property with her grandson Joe. John is alive and, according to Mary, willing to cooperate. Joan died intestate in 1990 survived by a son, George, who is in prison for drug dealing and also supposedly willing to cooperate. : The will was probated in 2006 and letters were issued to an unrelated third party who died in 2007 without taking any action in this matter and nothing else has been done since. : The catalyst is a 15K lien, the only encumbrance on the property, about to start foreclosure, and the "as-is" value of the property is abot 90K. : I made her an offer for "something other than cash" that should cost me about $16K, with special thanks to Rick Harmon, and she's thrilled with it. : Your thoughts about what needs to happen now at Probate Court and how long that would take. Is the involvement of a minor, Joe, and issue? How would you do this deal? : I appreciate your thoughts. : Gursel [ 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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