If I’ve recently become the representative of my deceased father’s estate and the house is not worth what is owed to the bank, how can it try to recover the difference?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I’ve recently become the representative of my deceased father’s estate and the house is not worth what is owed to the bank, how can it try to recover the difference?
Am I allowed to remove things from inside the house that I or my family might want? My father’s ex-wife has a key and has been coming in often and taking things that she claims is hers. Is there anyway I can get in trouble for this? I’m so worried and stressed and I don’t know what to do.
Asked on June 7, 2015 under Estate Planning, Maryland
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
I am so sorry for your loss and for the stress all this has caused. You as the Executor of the estate have a fiduciary duty to protect estate assets and to safeguard the house. So change the locks. As for the personal property that is not considered a "fixture" - such as a wired lamp, mantel, window treatments - it is part of the estate and you can take it out of the house. Here is a guide for you:
http://registers.maryland.gov/main/publications/AdministrationBooklet2013final.pdf
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 AttorneyPages.com 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.