Q: As a personal rep of my ex-husbands estate where all of his assets are in his name only can I refinance his house loan ?
Our children would like to keep the house. He had a short term marriage before he passed away in early Dec. 2017. I would obtain a mortgage loan to pay off his and transfer the deed to myself and our children. He did not have a will either.
A: First, upon your divorce from your ex-husband, you lost all interest in your husband’s estate and cannot refinance a property that does not belong to you or transfer to yourself an interest in the house. Second, if he was married when he died, his widow has a 50% interest in all assets in his estate because he died without a will. Your ex-husband’s children own the other half. As PR, you you would owe a fiduciary duty to manage and distribute the estate pursuant to the law. How did you become PR and not his widow? Are your and his children still minors? I suggest you retain legal counsel to assist and advise you about how to proceed.
Cedulie Renee Laumann and Kenneth V Zichi agree with this answer
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