What to do if I recieved a petition for special adminstration, requesting my interest in becoming the mortgage holder of real estate owned by my deceased father?

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What to do if I recieved a petition for special adminstration, requesting my interest in becoming the mortgage holder of real estate owned by my deceased father?

Does that simply mean I would in turn be responsible for the mortgage payments?

Asked on October 24, 2012 under Estate Planning, Wisconsin

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

From what you have written, it appears that the lender is requesting that you become the obligor under the loan with resoect to your father's real property that is presently unpaid assuming you either are the executor under the Will and/or are to receive the property as the beneficiary under your father's estate.

Assuming the petition is granted, then you personally would be responsible for the mortgage payments under the loan that is in your father's name.


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