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Updated over 6 years ago on . Most recent reply
Notice of Default Filed - Owner Deceased
A family friend's mother passed away a while back and the bank filed a notice of default a few months ago. The family friend lived in the house with the mother and currently still resides there however is not making the mortgage payments. The family friend and their sibling are her only children. They have no interests in the property and if I can gain ownership will move out without hassle for a nominal fee. I'm in the process of doing a lien search.
What steps should I take? Is there a way for the executor (or heirs) to sign over the title to me and I pay off the loan without going through probate? Or how do I "purchase" their interest legally so I can work with the lender?
Property is in California. I have yet to try to acquire properties where the owners are deceased. Thanks in advance BP.
Most Popular Reply
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- Real Estate Agent
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Will or no will the property will still have to go through probate.
Probate will not stop the foreclosure process.
The children still have a legal interest in the property. (CA probate law)
Since there's no will someone will have to step-up and represent the estate as PR. (Personal Representativel
In order for someone to sign over title to you, Letters of Administration will have to be filed.
Or you can offer to buy out everyone's interest in the property and start the probate Administration process yourself.