What to do about a small estate and a property lien?
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What to do about a small estate and a property lien?
It is a small estate transfer by affidavit for $50,000 or under. There is a lien on property regarding a government housing rehab grant/loan has to be paid back when property is sold or transferred. I’m a heir and elected by family to liquidate assets and pay the final expenses. Do I have to pay for lien on property right away once I file the transfer of affidavit with the state or can we wait until the property is sold to pay for lien?
Asked on January 18, 2014 under Estate Planning, Wisconsin
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
You can most likely pay it once the property is sold as part of the closing but you may wish to talk to a housing counselor in your area (their services are free) to see if the counselor can contact the government housing rehab lender to negotiate delayed payment. This is usually allowed during a death.
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