My mom passed away and sheand my stepdad has a house loan through a bank but there was no will stating who the share goes to.
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
My mom passed away and sheand my stepdad has a house loan through a bank but there was no will stating who the share goes to.
My mom recently passed away. she and my stepdad has a house loan through a Mortgage company that I also believe was done prior to Marriage. I was wondering if as her heir if I am entitled to her portion of the sale of the house. the house is owned in the state of Wisconsin. any info is greatly appreciated.
Asked on May 22, 2019 under Estate Planning, Wisconsin
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
It depends on how she and your stepfather owned the house and how it was acquired.
1) They were on the deed as "joint tenants with right of survivorship" or JTROS: as the surviving "joint tenant" (owner), the stepfather becomes 100% owner of the home when your mother passed.
2) They owned the home as "tenants in common" but it was bought during marriage: it is "community property" as something acquired during marriage and the surviving spouse (stepfather) inherits it entirely and becomes sole owner.
3) They owned the home as "tenants in common" but the house was bought pre-marriage: in that case, your mother's share (1/2 or 50%) of the house was her separate property, which means you inherit half of her share (a 1/4 or 25% interest) and the stepfather gets the other half of her share to add to his share.
4) She was the only person on the deed and the home was bought pre-marriage: it is all her separate property, so you get half the house (a half interest in it) and your stepfather gets the other half.
5) He was the only person on the deed and the home was bought pre-marriage: it is all his separate property and remains 100% his property.
The deed, not mortgage determines ownership; the mortgage only determines who has to pay the loan.
Of course, if the house is worth less than the remaining mortgage balance, it doesn't really matter: there is no equity or value to it.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.