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?

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.

@Nixon Vayupak  Did you get the probate book I sent you?

This is a pre-probate, sub2 deal.  I've completed many of these. 

How much equity in the property?

There are a number of different ways to approach this case and many variables.

Depending in current title vesting, It may be that an affidavit death of spouse might satisfy. 

You might be able to file a petition for order for spousal distribution, or a summary probate or a formal probate.

Without examining title, death cert and specific facts and circumstances, it's pretty tough to give specific advise. 

Did you get the probate book I sent you?

@Rick H. What book might that be? I would love to know more about probate.

I sent @Nixon Vayupak  an original, new copy the Gayle Ellison book,'Inside a Probate Sale' as a gift.

I presume that he somehow has not received it as most people would have acknowledged receiving, at least as a courtesy.

Some time ago I purchased the entire publisher's inventory of the book and rights to same in order to take the info off the market when I was white-hot actively doing probate real estate deals. It served the intended purpose when I wanted it to. 

I've considered releasing a few copies now that sellers get $200/copy on eBay.

@Nixon Vayupak  

You have, as Rick said, a sub-to deal just laid in your lap.  If the title is "joint tenants with right of survivorship, title to the property can pass to the wife, assuming she is the joint tenant.  Have the title company do this, to insure there are no other liens on the property, so you have clear title, for any subsequent sale.  She can deed it to you, leaving the loan in place.  However, if she is on the loan, it will remain on her credit until the loan is paid off.

@Rick H.  saw your message today and I asked my mail clerk if I received a package.  The odd thing is that they received it a while back and I was never notified.  Such an odd mail box service, believe it or not this is the second time they've done this to me.  Nevertheless, thank you so much for the gift and the tips in regards to the property I deeply appreciate it.

As for how much equity, from what I was told they currently have about 50%