If there is no mortgage on my house and I have Willed it to my child, will they get the actual house when I die or will it be sold and the money given to my child?

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If there is no mortgage on my house and I have Willed it to my child, will they get the actual house when I die or will it be sold and the money given to my child?

I’m terminal and only have a few months left to live. I want to make sure my child has a place to live after I am gone.

Asked on July 23, 2012 under Estate Planning, Maine

Answers:

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

Answered 9 years ago | Contributor

I am so sorry for your situation.  SInce this is probably utmost on your mind I urge you to speak with some one about how to set things up for your child so that he or she can live in the house as you wish.  How ever you choose to structure the matter is up to you so if you leave the child your home then it is theirs to live in.  But you have not mentioned how old the child is.  If the child is a minor then they would have no way to pay bills, etc. for the house.  Even with out a mortgage bills can be overwhelming.  And who will be the executor of the Will?  The executor is bound by a fiduciary duty to do as you wish but has the power to act in the best interest of the estate.  Good luck to you.  


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