More details to this question:
My mother and I own a home together with both names on the deed and the mortgage. It clearly states on the deed that my mother and I are joint tenants with right of survivorship and not as tenants in common. She did not have a will and passed away in 2006 and I took over all the responsibility of the payments as well as the maintenance and upkeep of the home. I am currently in the process of selling the property and it was brought to my attention from a title company that the deed states there is a charge on the land in the sum of $50K that if and when the property is sold she shall be entitled to this sum. I recently re-financed the property last spring to take advantage of lower interest rates and her name is no longer on the mortgage.
11 ANSWERS
Edwin K. Niles
She shall be entitled: Does that mean Mom? If so, even if the title co. construes that as meaning that her estate gets $50,000, you can pass the $50K on to her heirs by means of a small estate declaration.
Answered on Dec 20th, 2013 at 5:25 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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You should record your mother's death certificate in the county records or, since you're already in escrow, maybe just present the death certificate to the title company. The encumbrance of $50K on the deed is certainly odd; more research would be needed to see if that creates an obligation that survived your mother's death, so that the $50K would now be payable to her estate. Whether you open a probate estate and pay the $50K is going to be up to the title company whatever they need to insure title on this sale. $50K is a small enough estate that a Small Estate Affidavit would work, if the title company will go along with that.
Answered on Dec 20th, 2013 at 5:24 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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I would generally say you own it free and clear.. but I would have to actually see the deed to be sure.
Answered on Dec 20th, 2013 at 5:24 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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You need to talk with a local real estate attorney.
Answered on Dec 20th, 2013 at 5:24 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Since you refinanced the property and the title is solely in your name, the joint tenancy you had with your mom terminated when she died and you survived to her interest and no probate was required; that is why you were able to refinance and obtain title in your name. However, I don't understand the charge of 50K against the property, or who is to receive the funds. You need to clarify this matter with the title company and possibly obtain the assistance of a real estate lawyer to interpret the title report, to determine the charge and to whom the sum is owed.
Answered on Dec 17th, 2013 at 11:46 PM
2 Awards
Have an attorney review title. If your mother's estate is entitled to $50,000 from the sale proceeds a review of the title will make that clear. If so, it is small enough that a probate should not be required but a summary probate proceeding will be required distributing that $50,000 to your mother's heirs. It will be unavoidable and you will need help so call an attorney.
Answered on Dec 17th, 2013 at 11:46 PM
3 Awards
Probably not, but it sounds like a debt/judgment will be paid when you close. You will need to record an affidavit terminating joint tenancy. You should have an attorney review the specifics if you are unsure.
Answered on Dec 17th, 2013 at 11:45 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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The answer to your question depends on what the "charge" represents. As far as the deed is concerned, it sounds fine. The fact that the title company has raised a concern suggests that there is something a little out of the ordinary going on. Because of this, I would have a lawyer review the documents to help you figure out how best to proceed.
Answered on Dec 17th, 2013 at 11:45 PM
You should have an attorney review the deed and other pertinent facts. You may have to open a probate for the $50,000.
Answered on Dec 17th, 2013 at 11:45 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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More information is needed. Did she have other heirs at her death? What precisely is the language?
Answered on Dec 17th, 2013 at 11:45 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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No. What kind of "a charge on the land in the sum of $50K that if and when the property is sold she shall be entitled to this sum"?
Answered on Dec 17th, 2013 at 11:45 PM