First, you have to clear title to the property. You will likely need to probate your mother's will. I can't tell you with specificity which procedure you'll need, because I don't know the estate's assets/liabilities, etc. Having the will, by itself is not enough. You'll need a court order. I would not recommend doing this yourself.

Second, if you want to do this correctly, you would have your probate attorney draft a family settlement agreement regarding the repairs to the house, selection of a realtor, and the splits after the sale. Everyone thinks that it will be a simple transaction. It rarely is. Repairs will be higher than expected and the sales price will be lower than expected. The heirs will then disagree about whether to take a lowball offer. It gets worse from there. I cannot see a situation in which a title company would not be involved.

Finally, the mortgage is secured by the house. If the borrower dies, the mortgage is still "attached" to the house. The only exception is if the borrower had mortgage protection insurance that would pay the loan in the event of the death. If you stop paying the mortgage, the mortgage company has the right to foreclose the house.

Many probate attorneys will speak with you about your case for free or for a small fee. I suggest you speak with a few and figure out who you like best. Do not do this on your own.

Dave

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