What happens to if my mother died and left a mortgaged house thatI do not want?

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What happens to if my mother died and left a mortgaged house thatI do not want?

My mother died while I was still living with her in her home and without a Will or POA. I couldn’t afford at the moment to move out, however the bank that has the loan on the house said I can continue to stay but the mortgage must be paid. My mother also did not include anyone else on her loan so I am not privy to information. Now that I can afford to move, can I just leave or do I need representation or must I go through some kind of process?

Asked on November 15, 2011 under Estate Planning, Missouri

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I a so sorry for your loss.  Are you an only child or do you have siblings?  If your Mother died with out a Last Will and Testatment then she is said to have died "intestate" and the intestacy laws in the state will apply.  If there is no spouse but only a  child/children then you will inherit all the assets.  A POA dies with the person so that is not relevant anymore.   You need to file an estate proceeding in order to be appointed as the Personal Representative of the estate to deal with the assets.  If the house has value over and above the mortgage then you should try and sell the house.  Walking away is not the best solution here.  You need to seek consultation from someone who can look at the big picture here.  Good luck.


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