Q: My father passed away and I have a total of 2 brothers and 2 sisters. My dad had a Mortgage and I need some help.
I'm trying to keep my dad's house in the family and I make enough money to make sure the $900/month mortgage payment is paid. How do I continue to keep it in my family?
A:
To keep your father's house in the family after his passing, you'll need to consider a few important steps. First, determine whether your father had a will or any estate planning documents that specify his wishes for the property. If there's a will, it should outline who inherits the house and how it should be distributed among the siblings.
If there is no will or clear instructions, California law will come into play. In such cases, your father's property would typically go through probate court, and the court will decide how to distribute it among his heirs, which includes you and your siblings.
To ensure the house stays in the family, you may consider discussing the possibility of buying out your siblings' shares of the property. If you have the financial means to do so, this can help you retain ownership. Alternatively, you could explore the option of co-owning the property with your siblings, but this requires consensus among all parties involved.
Consulting with an attorney experienced in California probate and real estate law is advisable. They can help you navigate the legal process, understand your rights, and explore the best course of action for keeping the house in the family. It's essential to address this matter promptly to protect your interests and maintain a smooth transition of ownership.
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