my grandmother died without a will she expressed she wanted me to have the house she passed owing the bank i dont have the money what can i do?
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my grandmother died without a will she expressed she wanted me to have the house she passed owing the bank i dont have the money what can i do?
Asked on June 30, 2009 under Real Estate Law, California
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
What your grandmother might have said before she passed away doesn't help you. There is a state law that refers to "intestate succession," which is how her estate gets distributed without a will. If she was a widow, I'm pretty sure that this means her children get equal shares; if any of her children have died, the deceased children's children get their parent's share.
If you don't have the ability to buy out any other shares in the house (from your uncles, aunts and cousins, however it works out), or to refinance the loan even if you're the only heir, there simply isn't any way to keep it, it will have to be sold.
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