What happens to a house that was left to sole heir but now has gone into foreclosure?
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What happens to a house that was left to sole heir but now has gone into foreclosure?
My father passed away in Dec of 2017. He put his house into an irrevocable trust, that would be given to me once he passed. The executor of the will did not turn over any paperwork once he passed and still has yet to, nor did he have the estate pay the mortgage every month. So the house is now in foreclosure. If the house goes up for auction is it the responsibility of the trustees that didn’t do due diligence or the person the house was left to, but never got anything from the trustee. Had the trustee given the me the house, it would have been rented out to pay mortgage and then put up for sale. The deceased resided in Pahrump Nevada and I live in South Carolina
Asked on March 6, 2019 under Estate Planning, South Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
The beneficiary (you) is not personally liable for the amount owed on the house.
If the trustee failed in his responsibilities or duties, such as by not paying the mortgage, the beneificiary can potentially sue him personally for the amount that he or she has lost (e.g. the equity in the house) due to the trustee's "breach of fiduciary duty," or violation of his/her obligations.
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