Q: Mom dies without will. Owned home and son lived with her. Home equity loan with ~ 20,000 balance.
Can her son assume the loan without opening an estate? Siblings will not claim home; understanding was son would have home. Does he have to open an estate, etc.?
A:
You have asked the wrong question.
He can continue paying the loan, wi thout assuming it, and without opening an estate. However, in order for him to get title and be able to sell the house some day, he must open an estate, convey the property to himself, have his siblings renounce, pay inheritance tax, and assume the loan, with the lender's consent, or re-finance.
This is a quick summary. He needs to consult a lawyer promptly.
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