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Probate Property

Posted on: Tue, 08/30/2011 - 19:37
Probate Property

Hi, DG fam! My relative, who's the executrix of her father's estate in Pennsylvania, has documented that she wants me to be in charge of the estate. I have agreed to take care of all existing liens on the property. She has even granted me the authority to sell the property or keep it and rehab it, if I wish to do so. She had to return to her home state, hence requesting that I take care of all matters regarding Dad's house. Is any other documentation required other than her letter granting me rights to control this estate? I'll be meeting with the attorney before this week's end to verify that my relative and I are handling things legally. My intent at this time is to sell this property immediately so that I can pay off all liens associated with it. All agreements between us are properly documented.

Any feedback is genuinely appreciated.

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Posted on: Tue, 08/30/2011 - 20:35 #1
Legal (eze)

Hi Nicole:
My best advice (as I am not a lawyer) is to talk to your attorney over anyone else here. No disrespect to our fellow members but only an attorney in whatever state the house is in should be telling you what to do.

Having said that, when I had to sell my Mother's house last Dec. it was necessary for me and my sister to have "Power Of Attorney" documents to handle the issues involved with the house. My Mother however, is still alive just not functioning normally so I don't know if that would change because of your situation.

The main thing is to talk to the lawyer and make sure you have every agreement in writing and signed by both parties (whomever they should be.)

Hope this helps,

Andy Sager
DG's AndyS

__________________

Andy Sager
DG's AndyS
CFIC & IE member
2013, 2014, 2015 & 2016 EDGE Alumni Laughing out loud


Posted on: Tue, 08/30/2011 - 20:42 #2
Thanks, Andy

Thank you so much for the input. I actually just discovered how my relative and I would handle the situation. More paperwork involved as I just had spoken to the title company.


Posted on: Tue, 08/30/2011 - 21:15 #3
Will the sale have to have

Will the sale have to have court confirmation?


Posted on: Tue, 08/30/2011 - 21:18 #4
Hi, TRSD. No court

Hi, TRSD. No court confirmation required.


Posted on: Mon, 09/05/2011 - 15:32 #5
Andy S is right

speak with your attorney about it. It may cost a little, but free advice is usually not worth getting. good luck on the deal.


Posted on: Mon, 09/05/2011 - 15:45 #6
Things are Finally Smoothing Out

Thanks, guys, for the replies. Everything has been handled thus far. I'll be selling the estate within the next 2 weeks instead of rehabbing it myself. Title work has been ordered so that I can pay the liens off. I'll be consulting our attorney tomorrow in regards to other obligations we gotta take care of.