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Doreen528 · Mar 20, 2009, 09:46 AM

My dad passed, leaving me as executor of his estate. It states I receive all assets and property. He had a mortgage which we were paying. My mom is still alive and on the deed of the house, she lives in the house to. The mortgage bills are addressed to the estate of xxxxxxxxxxxxxx, who is responsible for the mortgage payments and whose credit will it affect. How do we figure out who the house actually belongs too, me or my mom.

ebaines · Mar 20, 2009, 10:22 AM

You may need a lawyer to help you figure this out. Did you Dad have a will, and in that will he specifed that you inherit everything - that is, he cut his wife out of the will? In most (all?) states you can't do that without written consent from the wife, so if this is the case you have a problem.

However, assuming that indeed you are the sole heir - once the estate is probated (settled), and any taxes paid, and the remainder of the estate distributed to the heir (you), the estate ceases to be. At that point you are the sole owner of your dad's property, so both you and your mom will be on the deed. You're going to have to talk to the mortgage company about the loan - since ownership is changing, and a new mortgage will be needed. Do you know if your father had mortgage insurance, or other life insurance you could use to pay the mortgage off?

ScottGem · Mar 20, 2009, 10:40 AM

Originally Posted by Doreen528

It states I receive all assets and property.

What is "It". The estate doesn't say anything. The estate is simply a legal entity to handle the disposition of the deceased's assets. So I'm assuming "it" is the will. This is further hinted at by you being the executor. Without a will, your mother would more than likely have been appointed executor.

So, I suspect the mortgage was solely in dad's name. That's why the statements were changed to read the "Estate of...". But who owns the property depends on how the title was written. If the title of the property was John and Jane Doe as Joint Tenants with Right of Survivorship, then mom owns the house. If it was not with Right of Survivorship, then you each own half the house.

In either case, what should be done is to refinance the mortgage in the owner(s) name so the estate can be closed.

Doreen528 · Mar 20, 2009, 03:23 PM

I am the heir to my fathers estate which right now the house is his asset. The mortgage company is aware he has passed, they have a copy of the will and the death certificate. My father refinanced and I don't know why my mom's name was taken off the mortgage statements. I will contact the mortgage company. My question is who is responsible at this time for payment of the mortgage and whose credit does it affect.

ScottGem · Mar 20, 2009, 03:29 PM

The estate is responsible for the payments if the loan was in his name solely. It probably won't affect anyone's credit since the creditor (your father is deceased). It MAY affect the property owner's credit if the property goes into foreclosure.

But you also asked who owns the property and the only way to answer that is to know how the title reads.