Probate??? Deceased Mom - Willed to both Kids… - Posted by Dave Holls
Posted by Dave Holls on July 13, 2003 at 10:46:13:
Well, I am looking for some advice for a situation one of my clients is in.
My client lives in a house in Detroit, MI. The home is in her mothers name. The mother passed away about 6 years ago. The mothers Will specifically mentioned that this home was left to the two daughters (one of which, my client, is living in the home). The other daughter had started the probate process and was the administrator, but never completed the process. The daughter who IS living in the home, went to the city and had the taxes put in her name.
Now, the daughter who is living in the home would like to move. She would like to fix a number of issues with the home and sell it, and then buy another home. We have thought about getting an equity loan and doing the repairs and then selling. Or maybe easier, would be getting a bridge loan (the home is paid off), buying the new home, moving in and then doing the repairs on the empty home and selling it.
At any rate, first thing’s first - we have to get the home in her name! What steps must be taken? Will this just go back through the probate process? Does the time lapse have any affect? We were planning on putting everything in my clients name so we don’t have to worry about getting the other daughters signature for everything (she lives a number of states away - and they have a good relationship, it shouldn’t make a problem), and then when the home sells, they will split the proceeds. But does this change anything, or is it just a matter of the other daughter signing it over?
Any advice you can give me would be appreciated. Although I am a Realtor, I have not had much experience with probate and all of the issues that are involved. Thanks, for your assistance, and let me know if you need any more information.