Monday, April 21, 2014

My dad died and left the house to my brother who is also the executor. there is an equity loan for $200 thousand dollars on a house that was...

Question

My dad died and left the house to my brother who is also the executor. there is an equity loan for $200 thousand dollars on a house that was recently devalued at $298,000. My brother is not working is he going to be able to get the house in his name?



Answer

I would need nor detail ie is there a will and if so has it been filed with the probate and family court



Answer

Thank you for your question, and I'm sorry to hear you have lost your father.

According to your description, your brother will inherit the property under your father's will. Whether he can afford to maintain the home, or will need to rent it, or will need to sell it, or will be able to refinance the loan obligation, or will need to find a roommate or get a better job is unknown.



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