Legal Question in Wills and Trusts in Florida
My Mother passed away in 2003 and left me a condominium in FL which I then had the deed transferred into my name. There was quite a birt of equity in this property and to avoid having to pay out closing fees to a new mortgage company I have continued to make timely payments on the original mortgage which is still in her name.
My question is this: I have recieved surplus escrow check through the years (addressed to my Mother, of course) and have discarded them. This year the check is over $1,000. Of course it would not be right to sign her name and try to deposit this check but would it be worthwhile to legally have something done so I can have this $? After all, I have been paying this mortgage for over 6 years!
2 Answers from Attorneys
Probate your mother's estate. I have to assume you did in order for the deed to be in your name. Did you open an estate account - you need to tell the mortgage company that your mother passed away and that the check should be written to her estate. Have yourself appointed as the Personal Representative and then you will be able to receive the funds and cash the money out. I doubt that the mortgage will ask for a new mortgage as long as the estate is handling the property and they are getting paid.
Probate the estate. The check goes to the estate and then to the beneficiaries (you). There is an administrative way to do this that should not require lawyers. The mortgage needs to be paid off. With her death, it becomes due.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
