QUESTION
If there is still a large outstanding mortgage on a house, is it still considered an asset in probate court?
Asked on Nov 30th, 2015 on Wills and Probate - Michigan
1 ANSWER
Administrative Law Attorney serving Ann Arbor, MI
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David J. Hutchinson
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Yes, absolutely. The mortgage is certainly taken into account in valuing things, but it is only through PRobate that the real estate ownership can be changed (unless it was owned jointly and the other owner survived). Good Luck.
Answered on Dec 01st, 2015 at 6:09 AM