inherited property must I pay existing mortgage

deceased fathers house I’m sole beneficiary no will, propeety exceeds value of existing loan

Asked on August 30, 2018 under Estate Planning, Tennessee


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

Answered 2 years ago | Contributor

I am so sorry for your loss.  No one can force you to probate his estate and take possesion of the house, but I would speak with an attorney on what to do next.  If the house is under water and you wish to modify the mortgage then a transfer in title will be necessary.  You need to decide your over all game plan here.  Good luck.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.