You could sell your interest in it, if you could find a buyer (you can't) but if both of you are on the title, both of you will have to consent to a sale. If he's not living there and doesn't want to make the payments, maybe he will participate. The mortgage will have to be paid from... View More

Hi,

First and foremost, I am sorry for your loss. Regarding your question, probate is typically necessary anytime someone dies owning property in only their name. Oklahoma has procedures for summary administration and small estate affidavits, both of which are generally less costly than... View More

ANY type of trust, or a simple life estate deed CAN do this. EACH has pros and cons.

Without knowing the WHOLE situation (for example who is ultimately taking the remainder interest, and what do you want to do with the maintenance and insurance costs? There are MANY more issues!) it is... View More

Not if in the judgement of the doctor it was medically appropriate. DNR doesn't mean don't do squat. It means if there is a situation where recussitation merely prolongs brain dead life (or other qualification) don't resucitate)

In order to be completely confident, I would need to examine the deed. Generally speaking, however, there are two methods for terminating a joint tenancy in Oklahoma. First, the surviving joint tenant(s) can petition the district court for an order terminating joint tenancy. Second, the surviving... View More

It sounds like a life estate in the parents (with right of survivorship) and the remainder to the 3 sons. An attorney would need to see the Deed to determine if it does, in fact establish a life estate and a remainder and to confirm that it is valid.

You can. But the mortgage won't go away. It will have to be paid one way or another. Your devisees will either have to refinance to replace the existing mortgage with a new one on which they are obligated; assume the existing debt obligation (if the mortgage company will allow it); or let... View More

Something is 'wrong' about this. The procedure in 99% of cases would be some form of probate or a 'non-probate' affidavit if the accounts were small enough.

Seek a local probate attorney to review and provide a 'second opinion' ... unless you are... View More

There is not enough information in your question to give you a good answer. Is it real property, as I assume from your reference to a Quitclaim Deed? Is it held by the State as unclaimed property? Is it a mineral interest? Does the State claim outright ownership by escheat? There may be ways to... View More

Property that is passed due to the death of the owner gives the recipient of the property a stepped up tax basis in the property. This includes property transferred by Transfer on Death deed or by the property's having passed through probate.

A Transfer-on-Death Deed does not constrain the grantor's ability to sell the property during his/her lifetime. In addition, generally speaking, because a Transfer-on-Death Deed is a testamentary transfer (meaning it takes effect at death), the tax treatment is the same as property disposed of... View More

Hi, thanks for your question. Oklahoma does not require the Exexutor (or Personal Representative) of a Will to be a resident. Nevertheless, depending on the circumstances of a particular situation, it could be more prudent to name an Executor who lives near the Will maker. Each case is different,... View More

Hi, thanks for your question. In Oklahoma, we call this a Transfer-on-Death Deed. Our statutes specifically authorize it. I cannot speak for other attorneys. However, I typically do estate planning matters on a flat fee - which varies depending on the nature and complexity of the documents I am... View More

Hi, thanks for your question. As a general rule, if a person dies leaving property in their name only (meaning it is not in a trust and there is no joint owner), then a probate is necessary to transfer the property to the deceased's heirs and/or beneficiaries. Assuming someone had property in... View More

Sorry for your loss.

Is the cash in a bank account? If so the form you need may be different and your banking institution should have it.

This is not legal advice or intended to be used as such.

If the estate was a beneficiary it may be necessary to open a probate. You may be able to use the procedure for small probates. It sounds like your mother attempted to create a will, often such attempts are ineffective. Any attorney reviewing the documents would expect to be paid. However, many... View More

This is a great question. The first thing is to look to the trust document to see if provides for a tie breaker or if it addresses removal of a trustee. The trust may have a "trust advisor" appointed to mediate disputes and/or remove a trustee. If there is waste being committed the... View More

There is no need to obtain a release from the Oklahoma Tax Commission while the grantor of a transfer on death deed is living. If the grantor of the transfer death deed died prior to January 1, 2010, a release from the Oklahoma Tax Commission would be required.

Yes. A will does not take affect until the person who made it dies. Therefore, so long as the person is living, their will does not impact the ability to buy, sell or otherwise deal with property listed in the will.

Assuming the house is titled in your name alone (and not a trust or joint tenancy), then your son would have to probate your estate in state district court in order to sell the house. In the event that the mortgage was not paid off at the time of your death, the bank could theoretically foreclose... View More