New York | Wills and Trusts
8/28/10, 5:45 am
Legal Question
Foreclosure and Inheritance.
I am the executor of my mother's estate. My sister and I are the only beneficiaries. My sister is in foreclosure, but is not aware that I or the estate's attorney know this. In May 2008, she took out a balloon loan for $232,050 and went into foreclosure in August 2009. Her home at most is worth $150,000. My question is, if my mother's home were put into my name and my sister's, would the bank be able to apply a lein to the property. The estate is probated in NY, where I live, but the house in the estate is located in NJ, where my sister lives.
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Read More Answered By: Carol Ryder |
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