If my dad passed away without a Will and it is just my sister and I as heirs, what do we do about the mortgage company?

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If my dad passed away without a Will and it is just my sister and I as heirs, what do we do about the mortgage company?

It will not disclose any information to us. We are unsure of how to start the probate process, if it is needed, or already started.

Asked on November 14, 2012 under Estate Planning, Oregon

Answers:

Catherine Blackburn / Blackburn Law Firm

Answered 9 years ago | Contributor

The probate process does not start automatically.  Someone has to petition to open an estate.  You and your sister can do this, or the mortgage company can do it.  You and your sister probably have the "first preference" to serve as representatives of the estate and manage all of your Dad's affairs.

If your Dad's property is worth more than the mortgage, you are well served to hire an estate attorney to take care of this.  If the property is not worth more than the mortgage, you are not required to do anything.  If you do nothing, the mortgage company will have to open an estate and foreclose the mortgage, but that is not your problem.  If the mortgage company does this, you will be notified but you are not responsible for the mortgage.

I hope this helps.


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