What to do if my late father left his house to my brother and I in his Will but I cannot afford to take over his mortgage payments?
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What to do if my late father left his house to my brother and I in his Will but I cannot afford to take over his mortgage payments?
I would like to rent it out. I do not have good credit and would not qualify to have the mortgage put into my name. What are the steps that I need to take now that my father has passed away?
Asked on November 4, 2013 under Estate Planning, Washington
Answers:
Nathan Wagner / Law Office of Nathan Wagner
Answered 11 years ago | Contributor
You will have to petition the probate court to name you as executor and/or transfer the house to you and your brother. You do not have to put the mortgage into your name. You can keep the current mortgage loan. As executor (and eventually as co-owner), you can rent or sell the house. It would be a good idea to talk to a local probate lawyer who can help you do this.
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