QUESTION
Can you close an estate after giving the house back to the bank through foreclosure? If so, how soon after?
Asked on Aug 30th, 2012 on Estate Planning - Indiana
More details to this question:
In estate law, can you close an estate when the house was foreclosed? Assets are $18,000, with $6,000 still owed. Does that money have to be paid back first before we can close the estate?
1 ANSWER
You should at least consult with a probate lawyer to obtain specific legal advice on handling small and insolvent estates under the Indiana Probate Code.
Answered on Sep 05th, 2012 at 12:28 PM