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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Profiting from probate deals.. Posted by Ward-CA- on June 12, 2003 at 3:58 PM In Reply to: name not on the deed posted by g.castro on June 12, 2003 at 3:25 PM : Ward, I just found a property with a defaulted loan on it. The husband is on the loan, but the mother was on the deed. However the mother died, and now there is nobody on the deed. The husband is the one that called me, and he is still living on the house and is willing to negociate. : What do I do in this situation? Do they need to go through probate? Or is there any other whay I could put together the transaction? =•=•=•=•=•=•=•=•=•=•= Gustavo, Have the cooperative husband apply at Probate Court to be named as the Administrator of the deceased’s estate. Get the husband to sign a notarized assignment of any and all of his prospective interest in the property for an agreed amount of money. Give him 10% of his payout upon signing the assignment and the rest of it when you get marketable title to the property. Find a probate attorney to recommend to the husband for help in processing all the paperwork required by the probate court so the husband, as the Administrator, can sell you the house without having to have any open court approval and ratification. Hope this helps. Follow Ups: Re: Profiting from probate deals.. gcastro 4:17 PM, 06/12/03 (2) Probate approach.. Ward-CA- 4:52 PM, 06/12/03 (1) Probate purchase Rick Harmon 5:35 PM, 06/12/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, I just found a property with a defaulted loan on it. The husband is on the loan, but the mother was on the deed. However the mother died, and now there is nobody on the deed. The husband is the one that called me, and he is still living on the house and is willing to negociate. : : What do I do in this situation? Do they need to go through probate? Or is there any other whay I could put together the transaction? : =•=•=•=•=•=•=•=•=•=•= : Gustavo, : Have the cooperative husband apply at Probate Court to be named as the Administrator : of the deceased’s estate. Get the husband to sign a notarized assignment of any and all of his prospective interest in the property for an agreed amount of money. Give him 10% of his payout upon signing the assignment and the rest of it when you get marketable title to the property. : Find a probate attorney to recommend to the husband for help in processing all the paperwork required by the probate court so the husband, as the Administrator, can sell you the house without having to have any open court approval and ratification. : Hope this helps. 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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