A question about my grandfathers Will ?
My grandfathers name is on the deed to my mothers house. Before he died my mother could no longer pay the mortgage on the house we had started to try and sell the house but the bank told us in order to do so we had to “pay off the lawyers first” shortly after this happened my grandfather died and it went in to foreclosure. In his will it states that all his assets are to be paid off. My mother’s house would be considered an asset because his name is on the deed so it’s his house my mothers name was just on the mortgage. Would this mean that now my mothers house should be paid off as it states in the will? It’s all very confusing to me and I just want my house back. If somebody could explain this to me I’d be very grateful.
- Nuff SedLv 78 months ago
"Pay off the lawyers" may simply mean the closing costs for the title transfer include their fees, to be paid out of the proceeds of the sale. It's like saying "you have to pay off the loan before you transfer the title". Yes, obviously, and thousands of people do that every day.
If your grandfather had a buyer ready, willing and able to buy the house, his estate's executor should IMMEDIATELY follow up with them to get the house sold, but we can't possibly know the "rest of the story" from what we know here.
- sunshine_melLv 78 months ago
It's not your house.
If the house was only held in your grandfather's name, it's part of his estate, and will be used to pay off his debts.
Anything left after this will be split according to his will.
If your mother's house was in his name only, it's not hers either.
- babyboomer1001Lv 78 months ago
It was your grandfather's house, not your mother's house. She may have been named in the Will, for the house to pass to her when he died, but she has to continue paying the mortgage, and some contracts do not transfer. She would need to pay it off in full - then she would own the house. Since she cannot afford to pay the mortgage, and can't even pay the lawyers, then she won't get the house. It will be foreclosed on, as it sounds like the process has already begun.Source(s): Certified Paralegal, with 25+ years' experience.
- SimplytheFACTSLv 78 months ago
assets don't get paid off, debts do, and the will doesn't have to say that, law does.
if his estate has money to pay off the mortgage, yes his estate pays the debt--if his name is on the mortgage......but if he had the cash to do that, why did he let it go into foreclosure?
I am guessing the foreclosure hasn't gone through yet?
does the will give your mother ownership of the house?
if you are at least 16, what are you doing to keep the house? do you work at least 20- hours per week? not have the latest iphone? shop at thrift stores?
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- goz1111Lv 78 months ago
Sorry for your loss
assuming your Grandfathers was on the note: Your Grandfather Estate would have to pay off all debts before the heirs could be paid under law, then even if they decided to pay off the note the profits would go to the estate to pay debts first before payout to heirs , Sorry the estate may not have the capital to even get the home out of foreclosure
- A HunchLv 78 months ago
All debts always need to be paid.
Your grandfather's will saying it doesn't change anything...
If grandfather has a wad of cash, then you would take that and pay his credit card, his car, his house, etc.
= if he doesn't have this wad of cash you need to keep selling things until all debts are paid, including the house.
So if he has a car and you can sell that and pay off the house with the money, then that's fine.
- but if he doesn't have enough other assets to pay all his debts and the house, then you have to sell the house
- Anonymous8 months ago
Since the loan is not in his name then it is not his debt to pay. I doubt his estate can be used to pay a debt that is not in his name. This is so screwed up that you really need to go see a lawyer to clear it up.
- Anonymous8 months ago
What house ? It was lost in the foreclosure the bank owns the house now.