Legal Question in Real Estate Law in Massachusetts
Estate, bankruptcy, real estate
My mom died on the day, I her DPOA was to be sign her
bankruptcy papers were to signed and filed. She has a
house in which there is perhaps 40K in equity if it sells
in todays market. She had over 130k in other debt has no
money and was receiving 900 /month for Social security. I
am named executor in her will of her estate. Am I required
to sell her house? If I keep it can I file bankruptcy
for ''the estate'' and sell the house later? What would my
best options be am I required to probate this?
3 Answers from Attorneys
Re: Estate, bankruptcy, real estate
There is no longer any need to file bankruptcy. There is a need to probate her estate. Assuming there is no right of survivorship on her house, you should consult an attorney about the need to probate the estate. It does sound like the house must be sold.
Re: Estate, bankruptcy, real estate
This really more of a question for a bankruptcy attorney. I recommend that you contact one as soon as possible for guidance.
Re: Estate, bankruptcy, real estate
You have a bankrupt estate. You need to contact an attorney and begin probate of the estate. Moreover, you need to consult a bankruptcy attorney.
The problem here is that claims against the estate may require the sale of the home. Unlike a chapter 7 bankruptcy an estate does not have that as an option to keep the home unless there is a joint tenancy on the deed.
Please feel free to contact me if you have more questions.
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