Legal Question in Wills and Trusts in Pennsylvania

If a beneficiary wishes to keep real estate as their inheritance but will need to take out a small loan to pay the difference between the value of the house & their share of the estate, are they required to go through the normal sales process or can the deed just be signed over to the beneficiary when they pay the estate what's owed?


Asked on 4/21/10, 6:59 am

1 Answer from Attorneys
Scott Polsky

I am not quite sure what you are asking. It appears that the estate will be transferring the property to you and you will be transferring some cash back. If this cash is in the form of a mortgage and note, the lender will probably want to be at the closing. If not, you can execute a Family Settlement Agreement that describes the transaction. I would need to hear some more details and what exactly you can and want to do to in order to provide a more specific answer.

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Answered on 5/04/10, 9:01 pm


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