When the last surviving moms and dad of an adult child dies, the family home frequently needs to be sold.
When a surviving parent dies, and the family home requirements to be offered, it can be a really easy process. There are times when the procedure is a little more complex than anticipated.
The simplest, most straightforward scenario is this: the Deceased person (called the “Decedent”) had a will. The home was either paid for totally or had one home loan on it. The home remained in the Decedent’s name and no other name was on the title. The Decedent was single/widowed. There were no liens on the house for work performed there. There were no judgments filed against the Decedent. The Decedent did not use Medicaid services that would produce a claim. In this scenario, there are probate procedures available in Texas that are really clear. The adult children of this Decedent who are in arrangement with one another will most likely have the ability to quickly put the home on the marketplace.
Here are some complicating factors:
For example, Joe and Mary owned their home together. Mary passed away initially. Absolutely nothing was done and Joe simply continued to reside in the house. 10 years later Joe passed away. Probating Joe’s estate refers to his 1/2, however if Mary’s portion was never legally distributed to Joe there is still 50% left. A title business will not be able to release title insurance coverage unless that portion is likewise accounted for and moved.
If there are liens on the house, whether they are for Medicaid claims or for work done on the house, they will need to be pleased.
The most basic way to believe of it is this: Every person/company/agency’s legal interest in the home should be accounted for and pleased.
These circumstances can be extremely easy or very made complex. Frequently the family does not even think of the home title till it is time to sell the home and after that they are amazed to understand that their making it through moms and dad never put the home entirely in their name, or had a lien pending. It is best to resolve these problems as quickly as possible so that opportunities to offer to interested purchasers are not lost.