If my father just died but had debt and my mother sells their house for a profit, can she keep the difference?

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If my father just died but had debt and my mother sells their house for a profit, can she keep the difference?

Will that be taken to cover his debt? They are both on the mortgage and deed.

Asked on September 30, 2012 under Bankruptcy Law, Pennsylvania

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If your father just passed, his estate has to be concluded via a probate, intestate succession or a trust administration so that creditors can be paid off and assets distributed to those who are entitled to such.

Whether or not your mother can sell the home that she has presumably where your father was on title as well depends upon if title is in joint tenancy or not and if not, then the home needs to go through one of the three proceedings listed in the first paragraph answering your question.

As to what monies your mother might be able toi have from the sale of the home needs to be explored after she consults with a wills and trust attorney to see how the deed is stated with respect to the home that you have written about.


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