Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Real Estate
Reply to "Inheriting a mortgaged property"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]They want her yo keep it so the estate doesn’t loose money taking it on and selling it.[/quote] It depends on the logistics. I assume the mortgage is greater than the "We Buy Houses" people price, so a traditional sale and its attendant commission is on hand. If the friend can unload the condo at no cost to the rest of the estate and keep a few grand from the sale, I don't see why the family would object so much or even care. If the friend giving the condo back to the estate (refusing an inheritance means it just goes to the next of kin) means that some cousin's inheritance goes from $5,000 to $0, I can see why the rest of the family might object to this. If it means the cousin's inheritance goes from $350,000 to $345,000, I can still see why the family might object but they've got less room to object. Of course this is the perfect junction of: 1) Younger folks needing a place to live can't afford the mortgage. 2) Older more established folks don't care. 3) Someone near retirement may not want THAT condo. 4) Someone wanting an investment property may not want THAT condo. Your friend should see an attorney. [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics