What to do if parents both died close together and left a house that nobody wants?

Get Legal Help Today

 Secured with SHA-256 Encryption

What to do if parents both died close together and left a house that nobody wants?

The house has $80,000 still owed on it. It was left to the son but he doesn’t want to claim it or live there. They also left 2 small credit card debts with no other debts and a title of auto. There are no other claimants. What is proper thing to do here?

Asked on June 16, 2014 under Estate Planning, Tennessee

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

I am so sorry for your loss. This is a bit complicated to guide you in full here but the son needs to disclaim the inheritance within 9 months of the death of the last parent otherwise he may be out of luck.  The proposed executor has to probate the Will and once all the assets are marshaled (gathered) and creditors given notice and debts accounted for, he or she can sell the house, pay off the debt and distribute the proceeds according to the Will. Disclaiming the house just puts it back in the pot, so to speak, as an estate asset for general distribution.  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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption