When the last making it through moms and dad of an adult child passes away, the family house often needs to be sold.
When a surviving parent passes away, and the family house needs to be sold, it can be an extremely easy procedure. But there are times when the process is a little more complicated than anticipated.
The most basic, most uncomplicated situation is this: the Departed individual (called the “Decedent”) had a will. Your house was either paid for completely or had one home mortgage on it. The house remained in the Decedent’s name and no other name was on the title. The Decedent was single/widowed. There were no liens on the house for work performed there. There were no judgments submitted versus the Decedent. The Decedent did not utilize Medicaid services that would create a claim. In this circumstance, there are probate treatments offered in Texas that are really clear. The adult kids of this Decedent who are in contract with one another will highly likely be able to quickly put the house on the market.
Here are some complicating factors:
For example, Joe and Mary owned their house together. Mary passed away first. Absolutely nothing was done and Joe just continued to reside in the house. Ten years later Joe died. Probating Joe’s estate refers to his 1/2, but if Mary’s portion was never lawfully distributed to Joe there is still 50% left. A title business will not have the ability to release title insurance unless that portion is likewise accounted for and transferred.
If there are liens on the house, whether they are for Medicaid claims or for work done on the house, they will require to be pleased also.
The most basic way to think of it is this: Every person/company/agency’s legal interest in the home must be represented and satisfied.
These situations can be really simple or extremely made complex. Oftentimes the family does not even consider the home title until it is time to sell the home and then they are shocked to realize that their enduring moms and dad never put the house exclusively in their name, or had a lien pending. It is best to fix these problems as soon as possible so that opportunities to offer to interested buyers are not lost.