Legal Question in Real Estate Law in Florida

Inheiriting home with mortgage

My mother passed away a few months ago leaving me a home through a living trust. She purchased the home three years ago and we lived there together throughout that time. The home still has a mortgage on it for $46,000. Can I just assume her mortgage? My credit history is poor. What do I do next? What steps do I need to follow?

I am not sure if this other info is pertinent, but she also left a CD $15,000 with myself and two sisters as beneficiaries. Two bank accounts checking $2,400 and savings $600, which were owned jointly by my mother and myself. I also had power of attorney.

Thank you in advance for any advice you can give.


Asked on 8/15/02, 10:06 am

1 Answer from Attorneys
Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

Re: Inheiriting home with mortgage

If the mortgagee (bank) agrees to have you assume the mortgage, then you may. It is not up to you. It is the mortgagee's decision. You and your siblings may want to meet with an attorney experienced in wills, trusts and estates to learn how best to handle the other issues.

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Answered on 8/15/02, 10:56 am


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