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Posts Tagged ‘probate’

3 Steps to Take When You Inherit Property with a Mortgage

3 Steps to Take When You Inherit Property with a Mortgage

Many people are confused about their obligations and options in these cases. First and foremost, the mortgage is still due. Repayment obligation does not terminate with the death of the original owner. Second, to avoid foreclosure or other adverse action, such as collection letters, the mortgage must be current. The lender can still take such…

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The 5 Steps of a Massachusetts Probate

While there are some ways to expedite the process and reduce the amount of inherited property involved, some legal proceedings are almost inevitable when a loved one dies. Properly understood and carried out, probate often brings emotional closure in these situations, but if it gets out of control, probate litigation can become an expensive mess.…

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Dealing With Inherited Real Estate That’s In Foreclosure

Real Estate New England

The loss of a loved one is devastating enough, but when that loss is coupled with the prospect of losing the family home, inherited real estate, which is typically the most valuable asset in these situations both financially and emotionally, the burden can almost be too much. Massachusetts is a non-judicial foreclosure state. In many…

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Foreclosure Rate Going Up Again In Bay State

The lingering effects of the Great Recession, and the fact that many homes are still underwater, are driving the foreclosure rate in Massachusetts back up. Some observers contend that the continued rise really is a backlog of cases. Three times in the last ten years, Massachusetts lawmakers enacted foreclosure relief measures, such as giving homeowners…

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Prince’s Estate: Minnesota Judge Removes Most Would-Be Heirs

Update: Prince’s Estate in Probate The dreams of fame and fortune turned out to be short lived for 29 people who claimed to have a lawful share of Prince Nelson’s legacy. Carver County District Judge Kevin Eide disallowed the claims of eleven reputed siblings, five alleged children, and thirteen purported cousins/nieces/nephews. At the same time,…

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Emotional Issues in Selling Inherited Property

Nearly all residential real estate transactions involve both a financial and an emotional component. For example, a motivated seller might take less money and a needy buyer might be willing to pay a little extra. But where inherited real property is concerned, the emotional factors are often much more prevalent. Strong emotional attachments are the…

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Protect Your Vacant Inherited Property from Burglary

According to SafeguardTheWorld, homes without security systems are 300% more likely to be broken into, burglarized or vandalized. This number increases tenfold when there is a vacant home with obvious signs of no one living there. Some of those signs include overgrown grass and shrubbery (ill-maintained lawn), snowed-in driveways and walkways and an abundance of…

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Your Local Probate Attorney: Helping Hands in a Trying Time

Carrying out the duties as an estate executor is probably one of the most thankless and time-consuming jobs. Many administrators agree to take on this burden out of loyalty to the deceased, and they may receive little or no compensation, other than what is provided for in the will, assuming that one exists. On top…

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Aftermath of Prince Nelson’s Death Highlights Heirship Disputes

All the people who claim to be Prince’s heirs must provide sworn testimony to support their claims, according to a Carver County, Minnesota district judge. The judge’s order requires prospective heirs to file an affidavit that answers a number of personal questions and provide a birth certificate copy. The trust company handling the estate can…

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The Probate Process In New Hampshire

Probate is a formal public legal process via which the assets of the individual are distributed following a person’s death, in accordance to their will. The probate process starts with filing the will, petition and death certificate. Usually, the general public has access to these documents. Thus starts a process that involves the filing of…

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