Legal Question in Wills and Trusts in California
who is responsable???
My sister is running the show. My brother and I are wondering
who is responsable for the mortgage on our fathers home until we
sell? The will he has states all of us are equal one-third each.
Need help right away.
Thanx
3 Answers from Attorneys
Re: who is responsable???
Aren't there any funds in the state which can be used to pay the mortgage. Proceeds and life insurance, bank accounts, stocks, bonds or other assets that can be sold to protect the house. If he died with the will of this should be probated and you could get an order from the court allowing payment for each of you if there are no assets. If you there was no will it's still needs to be probated. Again the court will oversee the process. If he died with the trust in fact even though no probate is necessary, if there are no assets to protect the home other than the home itself, then one third each is reasonable.
Re: who is responsable???
The estate is responsible for the payment of the mortgage. That means the bank accounts, stocks, insurance, etc of your father. If there is no such money, and the house is worth it, everyone should work together to keep it from being foreclosed.
Re: who is responsable???
I'd have to know more to answer your question. If by "running the show," you mean she's been appointed executor by a court order, then she's responsible for making the payments. If there's no probate, no one person has the authority to act and you should all agree on a plan to make the payments if the estate doesn't have sufficient funds. I'd recommend seeing an attorney to tell you what your rights/responsibilities are and what should take place--bring copies of the will and the house deed (if you have it) to the meeting.