Legal Question in Wills and Trusts in Colorado
My mother in law passed away 2 month ago,she left us her house which she owed 20,000 on.What would our first steps be if we want to save the house?
2 Answers from Attorneys
I would need a lot more info to begin to answer this (most importantly, I am assuming the house is in Colorado and need to know if it is not). If you mean that she left it to you in her will, then you need to file and open probate to be able to transfer the house from her estate to you, as the transfer will need to be made by her personal representative (aka executor) and the PR needs to be appointed by the court.
There are a lot of other issues to discuss as well, such as how the house was titled, what other heirs are named or not named in the will, etc. Feel free to call me for a free consultation if you would like to - I help people all over Colorado with estate issues. Hope this helps.
Your first steps would include:
1. Making sure her estate is probated properly so that clear title to the property passes.
2. Refinancing the existing mortgage as it must be satisfied.
Your question does not contain sufficient information to provide any additional response. You should see an attorney who specializes in estate administration for further advice.
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