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Company Loan Type APR Est. Pmt.

TN, Can I finish paying a loan of my deceased father,# 2

Posted on: 30th Jun, 2009 11:54 am
I saw the question regarding continuing to pay the loan of the deceased father. My question is along the same lines but more complicated.

My husband's father died recently and when his mother died years before she left the house to my husband and his brother but left it in a trust with their father. Since the father has passed my husband wants to take over the mortgage pmts and fix up the house. His brother is not in a financial position to do so and we believe is in bankruptcy.

How should we proceed?

Thank you!
Hi nellie,

If your husband's father has left a will, then it needs to be probated first. Once the probate is complete, the property will be divided accordingly between both the siblings.

If there is no will, then your husband can negotiate with his brother and file an affidavit of heirship and transfer the whole property in his name.
Posted on: 30th Jun, 2009 07:41 pm
What if his brother is already in bankruptcy? Can he still file an affidavit or would it have to be taken up with bankruptcy courts? His father left no will by the way. Thank you.
Posted on: 01st Jul, 2009 07:59 am
Hi Nellie!

Welcome to forums!

If your husband's brother is in bankruptcy, then it would be difficult for your husband to file an affidavit of heirship now. If there is a property deed which states that both of them are the owners of the property, then your husband's brother may have include the property as one of his assets in his bankruptcy filing. I would suggest your husband to speak to a lawyer before taking any further step. The lawyer will be the right person to help him.

Feel free to ask if you've further queries.

Sussane
Posted on: 01st Jul, 2009 08:54 pm
Thank you both...you've been helpful!
Posted on: 02nd Jul, 2009 11:24 am
You're most welcome Nellie! :) If you've further queries regarding mortgage or any related financial issues, feel free to post in the forums. The members/experts participating here would try to give their opinion and help you.
Posted on: 02nd Jul, 2009 10:38 pm
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