Legal Question in Wills and Trusts in North Carolina
My father died purchased a home in NC in 2007 and died the same year in NC. He lived in the home with me. My name was on the deed with his. His wife, my mother lives in VA and has been mentally ill for years. She was deemed incapacitated and has a conservator. I have been paying the mortgage on the home since it was purchased and recently had financial hardship and the home went into foreclosure. However, I was able to pay the back amount and the mortgage company is now allowing me to assume the loan. But it is taking longer than I expected to have the home titled in my name. In talking with my fathers estate attorney, he has advised me that my mother or her conservator can sign the papers to have the property titled to me. There is NO Equity in the home at all! Do I have any other options?
1 Answer from Attorneys
The answer to your question depends on how the deed is titled. Look at the deed and see if it states that you and your father were joint tenants with right of survivorship. If so, you now own the property and debt 100%. If you don't find those words on the deed, but you find the words, tenancy in common, you only own a 1/2 interest in the home and the other 1/2 is owned by your Dad's estate. If the estate owns 1/2 then the will gives us direction regarding the other half. He may have left it to you or someone else. Your mother may also have an interest in the property under NC law. If so, then the advice the estate attorney gave you, that your mother or her conservator can sign the papers to have the property titled to you is most likely correct.
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