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Updated over 9 years ago on . Most recent reply

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Brent T.
  • San Diego , CA
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Can probable be avoided?

Brent T.
  • San Diego , CA
Posted

Hey everyone how's it going ? I am new to the site and new to real estate I am actually not even an investor yet but that is what I want to be soon. However I have a question on behalf of my father. His dad passed away last month and owned his own home. He did not leave it to anyone. He had three of his own kids including my dad. And also had 3 step children. My dad was told each kid even the step kids could get a portion of the sale of the house if they went that direction. No one other than my dad has any interest in the house but he is worried that even if he assumes the house that he may still have to enter probate and still pay everyone else. He wants to rent it and keep it long term. Would he have to pay everyone else even if they don't want apart of the house ? I told him this is too good of a deal to pass and could potentially be my in as an investor as well. Any advice and suggestions? Thank you in advance for the help and advice 

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Jerry W.
  • Investor
  • Thermopolis, WY
4,000
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4,314
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Jerry W.
  • Investor
  • Thermopolis, WY
ModeratorReplied

@Brent T., sorry my computer crashed I will try again.  General disclaimer I am not licensed in CA and cannot give you legal advice there, I am simply telling you black letter law concepts.  First there are 3 ways real property passes if someone dies.  The first is some type of survivorship where you are part owner like joint tenants with rights of survivorship.  Next is there is a Will, you are a named heir and so inherit.  This normally means probate but sometimes if the value is low there is simplified probate.  There must be some court order to transfer title.  If no one else wants the property they can disclaim their interest or even quitclaim their share to your dad.  You did not say if there was a Will.  If someone dies without a Will it is called intestate.  In that case the state where they resided or where the land is located has laws that say how the property will pass.  It normally goes all or part to the surviving spouse and the rest to the biological children.  If no spouse it goes to the children.  I am not aware of any state that has given heirship rights to stepchildren.  Keep in mind California is crazy enough they may have done it, but I have never heard of any state doping it yet.  California has palimoney property splits which are pretty rare but becoming more common.  If it is land and your dad's name is not on it, it will take a court order to change the name to your fathers.  You may as well call an attorney and get started.  Make sure you ask prices and especially hourly rates.  There is a huge difference between attorneys and it is not that difficult to do.

    Last but not least there are laws that prohibit banks from calling the loan because the mortgagor has passed away.  As long as payments are kept up the loan should be ok.  I hope this helps.  Good luck.

  • Jerry W.
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