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Updated over 3 years ago on . Most recent reply

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Steven Peery
2
Votes |
5
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Father dies without Will, sons can’t pay for it a mort or probate

Steven Peery
Posted

Okay I need some advice from some experience REI’s. Came across a situation where the father died 1-2 months behind on rent. He died WITHOUT a will and his 2 sons cannot really pay for probate attorney and or really keep the payments going long-term on the property in AZ. Debt on home is 250k and property appraised approx 800k. 2 sons lived with him at property and sounds like they don’t work.

Spoke to the son in charge and he said his main goal is to just have time to go through everything of his dads and sell stuff before he’s kicked out and of course would like to stay long-term but doesn’t know how that will happen.

I meet with them at the home this Saturday (1-8-22) to discuss options but I really don’t see any good ones. Obviously they have no claim on the house so can’t make any commitments with out having ownership of the home. I was going to offer to pay probate lawyer and 100,000 to each son at closed of probate in exchange for the house ( not knowing how long and expensive or what the market will be like once probate is over or what other skeletons might be in the closet.) I do not want to take advantage of them but want to help them as well as help myself at the same time.

Any thoughts to how I can work this where it will fairly benefit both parties involved with low risk for myself?

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