Add name to deed of deceased parent

masop · Joined: 01 Oct 2009 Posts: 1 1.52 Dollars($)

I live in Maryland. My father who lived in Maryland as well passed away recently and he left 3 loans (1 heloc, 2 personal) to pay off, all which have liens on the property which has alot of equity in it. I am the only son and only heir, as there is no living spouse. The estate is intestate, as there is no signed will. I have the credit score and income to afford to secure a loan through my credit union to pay off the debts of my dads, but that requires using my dads house as collateral. The only problem is I need my name on the deed in order to do that, otherwise I've got no other collateral to use.

The estate was opened just 3 weeks ago and the bank has already filed claims on the 3 loans. The funds in the estate account will go dry by thanksgiving and the bank has stated they will initiate foreclosure 60 days after default on any of the 3 loans. There are no other liquid assets to work with.

What can I do? Is it possible to have myself added to the deed and then apply and get a loan through my bank to pay off the 3 current liens against the property to avoid foreclosure? Thanks in advance.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)

You have to conatct an attorney immediatley and exaplin your situation and see how you can get the house in your name

Since you are the survivor you have full right on the property, since there is existing lien on the property you need to get all the things cleared and put your name on the property

smithsussane · Posted: Fri Oct 02, 2009 12:03 am Post subject:

Hi masop!

Welcome to forums!

I guess, your father has not left a will. In that case, you can file an affidavit of heirship at the county recorder's office and get the property transferred in your name. Once the property is transferred in your name, then you can start making the payments by taking a mortgage in your name. Or else, you may even refinance the mortgages in your name and start paying off the dues.

Feel free to ask if you've further queries.

Sussane

hemsleysue · Joined: 13 Sep 2009 Posts: 72 0.02 Dollars($)

you can become owner by submittng death certificate and affidevit of heirship.

keep paying mortgage on time and inititate process of refinance as well

annyb27 · Joined: 07 Jul 2009 Posts: 135 0.88 Dollars($)

Does you have will of your parents?
catch any broker for the transfer the house in your name.
If there is will it will help.
Legally you should do the prcedure as early as possible.

jheard · Posted: Fri Oct 02, 2009 11:36 am Post subject:

You can do nothing with the property as it is under the jurisdiction of the probate court. The trustee of the estate should sell the property, pay off the mortgages and give the remainder to the heirs. Contact the estate trustee for details. If you have any problems, hire a probate attorney.

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