If my brother recently died and their are of us 3 siblings left, what are our rights/responsibilities regarding his estate?
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If my brother recently died and their are of us 3 siblings left, what are our rights/responsibilities regarding his estate?
He owed about 90k on a 250k house and has about 20000 in credit debt. Can I move into his house and take over the mortgage payments without having to settle all that credit debt? Can some of the credit debt be wiped clean or reduced? Do I need to settle the credit debt before taking over the mortgage?
Asked on August 12, 2015 under Estate Planning, California
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
Before anyone takes possession or control of any assets or liabilities, the estate needs to be submitted to probate. During the probate, any issues regarding the debts or property can be resolved. Creditors, if they chose to assert their right, could look to any property owned by your brother to assert their rights for collection. If they do not participate in the probate, then they will waive their right to collect on their accounts.
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