What do I need to show proof that I able to sell my mom's home

[Sarah Jones]

Long story short sister was the first beneficiary she backed out mom approached me to see if my son and I would like to take over once she passed I agreedwe filled out transfer on death deed.. and I filed with county courthouse.. house is in my name I'm living in the home I'm behind on mortgage payments I'm wanting to sell I have a buyer title company asked if Mom was deceased and if the home and property was considered personal property there might be a problem what do I need to do to show that I'm able to sell the home. We weren't sure if my sister as the executor of the trust can give that authority for me to be able to sell the home she and I have already agreed to split the proceeds. They decided last minute they did not want to take on Mom's home when she passed so Mom approached me and asked me that's when we filled out the transfer on death the that the deed is in my name and I'm wanting to sell what all do I need to do on the first time homeowner I'm a novice lamens terms please. This just came up this evening I do have a real estate attorney that I will talk to you about this tomorrow I'm just worried about it tonight hoping to get some answers I just want to make sure I'm doing everything legally in the right way. Thank you for your time and any information you pass along to me. SRJ

[Henry Clark]

As you mentioned talk with an attorney and your tax accountant. It’s in the small print.    

1.  Transfer upon death means your mother owns.  
2.    You said property is in your name.

3.  No stepped up basis if she gifted to you.  She may owe a gift tax.

4.  Did you hold longer than a year so capital gains tax rate? 

5.  If she goes to a rest home, they can come back after the house proceeds depending on length of time.

6.  Non real estate.   Where is your mother going to live?  
7.  You’re behind on payments.  Is loan under your name or hers?

8.  Would think rent would be higher than house payments if you sell.

9.  Although interest rates are higher, if she has a lot of equity built up, would think a refi would have a lower PI payment than your current payment.  Talk with a realtor