What can a beneficiary do regarding the refinance of inherited property?

Get Legal Help Today

 Secured with SHA-256 Encryption

What can a beneficiary do regarding the refinance of inherited property?

My mother passed away 1 1/2 years ago and her Will left everything to my brother and I. He just put the Will into probate. I lived with my mother and have been making the mortgage payments on time, however next month the payment will increase substantially. I want to get the house in my name and try to refinance; my brother does not want house). I cannot pay all of next month’s mortgage.

Asked on November 30, 2013 under Estate Planning, New York

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

I suggest that you consult with a Wills and trust attorney as well as a mortgage broker to get the home transferred into your name as soon as possible so that you can refinance the parcel. Your brother will need to sign a disclaimer that he does not want title to the home.


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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption