Do You Have a Right To Sell That Morgan Hill Probate Home?

By
Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194

Morgan Hill Probate home

As a realtor who specializes in Probate sales I have recently been involved with a number of families were trying to sell homes they thought they inherited or had title to, but wound up in Probate instead. Since the Probate courts are backed up, this can cause delays, heartache, and tension for the families and were problems that probably could have been avoided.

I want to say firmly, I am not a lawyer. I am a Realtor who specializes in selling homes in Probate and this is not legal advice. If you are going to be involved in intra family title changes PLEASE get the advice of a lawyer. This is complicated stuff.

I just want to give you a few examples so you can see that you should not assume anything when it comes to Probate sales. To see First Example click here

Second Example:

Mom owns home in Morgan Hill in a trust free and clear after Dad passes. She needs money for daily living expenses so she takes out a reverse mortgage.

Eventually she is unable to care for herself. She takes the house out of the trust and gives half to Daughter 1 as joint tenant so daughter has right of survivorship and right to sell the Morgan Hill house to pay Mom’s assisted living expenses.

Mom’s health gets worse and she needs to be moved to assisted living. Mom and Daughter 1 decide to sell the house to pay for the finest assisted living they can find.

Mom moves to assisted living and 3 days later dies.

Daughter 1 wants to sell the Morgan Hill house which has plenty of equity that was not used to take care of Mom, so she plans on splitting it with Daughter 2 and Son 1. 

Reverse mortgage company says “Hold Your Horses.” You had no right to change title of house without our knowledge. They claim:

Reverse mortgages are for senior home owners only, not their children. Daughter 1 should not have been on title because she was not given permission by Reverse Mortgage Company.

Joint Tenancy is an equal partnership between all parties. All partied must be equally responsible for any liens/mortgages on the home. Only Mom was on the loan so she should have been the only one on title. 

You can see the problem here.

I suspect this one ends up in Probate Court with Court Confirmation needed instead of a fast, clean easy sale.

Tomorrow I will give you details on other issues that have come up in my Probate sales.

 

If you have any questions about selling a home in Probate or need a Probate Realtor in Morgan Hill or anywhere else in the Bay area please feel free to contact me.

Marcy Moyer

eXp Realty of California

650-619-9285

marcy@marcymoyer.com

www.marcymoyer.com

CAL B.R.E. 01191194

Specializing in Probate, Trust, and Investment Properties

 

Posted by

Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
California Santa Clara County Morgan Hill
Groups:
Posts to Localism
Dedicated Bloggers
The Ninety-ninth Percentile
Club Chaos
Tags:
morgan hill
morgan hill probate property
morgan hill probate realor
morgan hill trust realtor
morgan hill probate real estate agent
morgan hill trust real estate agent
morgan hill reverse mortgage

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
576,873
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

What a messy situation this turned out to be... Now it will take months in court to sort this out... How sad..

Feb 03, 2018 07:55 AM #1
Rainmaker
468,350
Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

It was one of the bigger messes I have dealt with. 

Feb 03, 2018 07:58 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
468,350

Marcy Moyer

Probate, Trust, and Investment Specialist
Ask me a question
*
*
*
*
Spam prevention

Additional Information