Legal Question in Wills and Trusts in Alabama
Property of a deceased person
We inherited a house that has a mortgage balance that is almost equal to the sellable price of the property. Do we need to sell the house, or let it go into foreclosure? The heir is also the executor of the will.
Asked on 3/27/08, 1:05 pm
1 Answer from Attorneys
William Nolan
Nolan Elder Law LLC
Re: Property of a deceased person
Unless there are repurcussions from letting the house go into foreclosure, I don't see any benefit to you doing the work for the mortgage company. If they are willing to settle for less than the payoff, maybe you can make the deal work in your benefit.
Bill Nolan
Answered on 3/27/08, 1:12 pm
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