Legal Question in Real Estate Law in Massachusetts
Mortage and Deed
My father had his name along with two of his brother on a morgtage for the house they all lived in. Prior to my Dad passing away he had his name taken off the deed and had his childrens name put on the Deed. My sister seems to think that she talked to the bank and that with his death, his name was removed from the mortgage. To add to this: my Dad had no will, although my sister had her names put on his bank account to pay for his medical expenses. Now, My uncles want to sell the house - when the house sells in what order does distrubution of the money happen? meaning does it get divided up between 5 of us and my uncles are then responsible for paying off the mortage or does the mortage get paid off first and the rest gets divided between 5? (I saw 5 because there is a total of 5 names on the deed). Thank you.
1 Answer from Attorneys
Re: Mortage and Deed
Not knowing all the facts, I would say, on the basis of what you wrote, that a likely outcome is that the mortgage would be paid off and then the remaining proceeds would be divided one third to each uncle, and the third that would have gone to your father will be divided among his three children. In other words, each of your father's children gets one third of a third, after the mortgage has been paid off.
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.
