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Updated over 10 years ago on . Most recent reply

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Nixon Vayupak
  • Diamond Bar, CA
34
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110
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Need input. How do I obtain title for this deal?

Nixon Vayupak
  • Diamond Bar, CA
Posted

Hello BP family.  I have an interesting scenario, which fell on my lap.  I have a property that I can acquire and need some assistance trying to figure out the proper steps.  The story is that the owner of property passed a way 7 months ago and left his wife and son with a housing financial burden.  The mortgage and property title are all only under the deceased name. The son (seller) is currently making mortgage payments on it since the entire family members are still living there.  They completely want out of the house and basically wants to be cashed out for the only the loan balance.  My concern is how will title be transferred if the owner of the house is deceased?  I am assuming this must go thru probate and would like to know what are the steps?  My goal is to leave the loan in place and just take over payment, but I want the title transferred to me.  Please note the seller indicate they don't mind if the loan stay in place as long I give them some moving money. Any ideas how I may approach this?

Most Popular Reply

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Ned Carey
  • Investor
  • Baltimore, MD
13,092
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16,799
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Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

I don't know the law in your state but I believe the property will transfer to the wife. Yes you may need to open an estate. An attorney can do that and you buy the property from the estate. 

Presuming the wife is the rightful heir she should be the one signing the contract. Presuming an attorney tells you an estate needs to be opened they do that. The PR of the estate then signs the deed, 

This is not as hard as it sounds and an attorney can do the heavy lifting.

  • Ned Carey
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