Legal Question in Real Estate Law in Massachusetts
is mother entitled to the profits of the selling of her house,even though the children took over her mortgage 3 to 4 yrs before selling it. there was no legal document stating she would profit from the transaction. it was divided into 3 by the children who toook over her mortgage
3 Answers from Attorneys
Even if nothing else, if the deed is in her name, then the distribution should be according to the names on the deed, not the mortgage.
I believe this question has been posted already, and I think you would benefit from consultation with an attorney. It is unclear what you mean by "it was divided into 3".
The owner of the property is the one on the deed. However, if the children have been making payments on the mortgage, they may have an equitable claim to some of the proceeds.
Absent an agreement the payment of the proceeds goes to the owner not the person who paid the mortgage. If title was changed to the children that is a different story.
The children have a claim for reimbursement of the money expended for the mortgage and on the home.
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