Need input. How do I obtain title for this deal?
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?