Legal Question in Wills and Trusts in California
Probate: Real Property
I am the Administrator for my mother's estate. My mother's home is owned by the bank (she owes approx. 160 still on the loan). My question is, since the bank still holds the mortgage, can the judge declare that the house be sold even if my mother does not have any creditors to pay off? I am concerned because I lived with my mother for several years, and now my sister wants to move into the house. I would hate for her to move in and then later told by the court that we have to sell it.
2 Answers from Attorneys
Re: Probate: Real Property
The court will not tell you what to do with the house. As Administrator, it is up to you whether to sell it or distribute it to your mother's beneficiaries (although if you sell it during the period of administration, you may need the court's permission, depending on the terms of the will, but this is just a formality.) You should consult an attorney about the best way to handle to distribution to ensure that you and your sister don't get reassessed for property taxes. Be sure to continue to pay the mortgage.
Re: Probate: Real Property
Actually, your Mother's estate owns the home and, as administrator, it is you fiduciary duty to do whatever is best to protect her assets. You do need to continue to make the payments to the bank, as co-counsel stated. An important distinction, however, is when there is a trust versus a will (or nothing). Which did your Mother have?
If you would like to discuss this matter further in a more private forum, please feel free to contact me directly at the email address provided by LawGuru or through our firm�s website located at PasadenaEstatePlanning.com
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