Legal Question in Wills and Trusts in Florida
My mom's house in a trust. There is a mortgage on the propety (approx $38,000). In her will I am the executrix. When she passes, what happens to the house. In the will it states that once the house is sold, it will be split equally 5 ways (myself, 3 sisters and 1 grandson). The way the market is now, it could be a while before the hosue is sold, how is the mortgage or other home expenses paid?
Asked on 9/07/10, 10:00 am
2 Answers from Attorneys
The Trustee can pay for the expenses, but it appears the property is homestead. Therefore, upon death, the property is supposed to pass immediately to the beneficiaries.
Answered on 9/12/10, 11:51 am
David Slater
David P. Slater, Esq.
Whoever pays the upkeep will have a lien for reimbursement.
Answered on 9/13/10, 3:11 pm
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