How can I keep mother’s home?

My mother passed away last week, only 3 months after purchasing a new home. I am not on the title and she left no Will. I know she has less than $50,000 in assets. I want to keep her house and assume her mortgage loan and I am unsure how to do this. I need advice

on this matter.

Asked on January 10, 2018 under Estate Planning, Nebraska

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

I am so sorry for your loss.  If your Mother died without a Will she died Intestate and the Intestacy laws in the state will apply. Are you he only next of kin and the only person to inherit under the intstacy laws in Nebraska? If she died without a spouse her children inherit everything.  Now, becuase she owned real property it is likely that you will have to file a Petiion for Probate.  The property can be transferred in to your name via Executor's Deed.  Not the good thing is that if you inherit property it does not trigger the "due on sale" clause in a mortgage.  If you sold the property the mortgagor (lender) would have to be paid off.  But  transfer pursuant to a Will or intestacy does not generally trigger the clause, meaning you can continue to pay the mrotgage as is until it is paid off. You do not have to refinance in your name. Good luck.


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