QUESTION
How do I ensure I've no obligations to a house
Asked on Oct 30th, 2021 on Real Estate - Pennsylvania
More details to this question:
My mother passed in 2014 and, in her will, left the home to my sister and me. I moved out of the home 2 years ago; my sister still lives there. I want to make sure my name isn't associated with the house - no financial obligations at all. Prior to moving, I obtained the paperwork from the mortgage company and everything beaded my mother's name. Since I'm named in the will, I was to be removed from association with the home.
1 ANSWER
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Generally, being named in a will doesn’t require that your name be removed from real estate. To the contrary, it is usually the exact opposite as beneficiaries receive assets and are not deprived of them.
If you inherited the house, there are only 2 ways to divest yourself of ownership, amicable deed and partition. The former occurs when your sister agrees to remove you and the 2 of you execute a deed transferring ownership from the both of you to whomever the 2 of you want, which could be her, only. The latter involves a lawsuit in which the court orders the sale of the property.
I trust this answers your question, but if you are in the Delaware Valley, do not hesitate to call or email on a free initial basis.
Best Regards,
Matthew R. Nahrgang, Esquire
35 Evansburg Road, Ste 400
Collegeville, PA 19426
(610) 489-3041 o
(610) 489-3042 fax
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Answered on Nov 02nd, 2021 at 7:50 AM