Legal Question in Real Estate Law in Florida
My sister and I are on a quit claim deed for my mom's house in Florida..Mom passed away last year. Does my mom have to be removed from the house or is she automatically off when she passed away? The house currently has a mortgage on it that was in her name but now is states it is the estate of her name along with my name on it. My sister wants me to buy her out at 1/2 of value of house which is $75,000. She also proposed that she can buy me out for only $15,000 minus closing cost. Any advice on this mentioned above would be appreciated.
Thanks
1 Answer from Attorneys
The first answer depends on how you were titled on the deed with your mother and your sister. Without knowing that no one can tell you what interest you have in the property (that also assumes that the deed was recorded prior to your mother's passsing).
The deed and the mortgage really have nothing to do with one another. The mortgage company wants to be paid and they do not have to change the name on the mortgage or note.
As for the buy out, it is unlcear whether you mean $75,000 is 1/2 the value of the home or the full value. In any event if your sister says that she is entitled to 1/2 and you are entitled to only $15,000.00 then she must believe that she is owed an offset for some reason. If your sister has paid for the home, taxes, insurance, repairs, other maintenance, or anything associated with the home directly out of her pocket with no contribution from you then she MAY be entitled to an offset.
You should spend some time talking to a local probate or real estate attorney to discuss your situation.
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