Q: My brother & I own a house that our mother lived in. She passed & I wanted it sold. He moved in.
Because his primary house is being foreclosed.
He said he was going to give me $500 a month until his house sells. How when it's in foreclosure? Can they put liens against the house we both own?
The deed says jointly with survivor ship. That means if 1 of us dies it goes to our spouses?
A:
survivorship--both living at time of mothers death means you split it. If one had died BEFORE the mother, the survivor would get it.
Ask for the $500 in writing.
Assume that if house is in foreclosure, he will only get money if it sells for an amount above the amount owed. Many people sell a house while it is technically in foreclosure--as long as the holder of the mortgage(s) is satisfied and paid off, then it's OK. Depends on what the debts on the house are, and what it's market value is worth.
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