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I am a layman, and this answer is based on personal study of family deed records, and will have to suffice until an attorney or real estate expert can improve it. As an example, in the state of Louisiana, my grandfather and his siblings inherited undivided [equal joint ownership] interests in several different pieces of undeveloped [raw land] real property. For a long time they argued over what to do with it, with some wanting to sell all, and some wanting to sell only part, and some wanting to keep it all. When it became clear that a satisfactory agreement was impossible, one or more of them filed a lawsuit in the local court having jurisdiction, requesting that the court determine how to physically divide [partition] the properties in a fair manner. Based on my understanding of the process, it is like any civil lawsuit, in that it cannot be prevented or stopped except by agreement and out of court settlement by all parties having a legitimate interest.
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What is the best recommended foreclosure website?
There are agencies who can help you to stop foreclosure. I have saved my house from foreclosure and if you have a foreclosure property then those agencies will buy it at a great price. For foreclosure guide you can visit myprgenie.com you will get stop foreclosure guide by 2brothers real estate
How do you stop your escrow?
You can stop your escrow buy paying off your mortgage and satisfying all the requirements of your mortgage. Lenders set up an escrow account so that they can pay the real estate taxes and homeowners insurance.
When does interest stop accumulating for a debt owed to an estate by an heir?
Interest on a debt is not going to stop accumulating for a debt owed to an estate by an heir until the debt is paid off. Perhaps selling the estate will help the heir pay the debt off and stop the interest accumulation.
NJ-Does a quitclaim deed prevent a credit card company from going after an estate?
Every state provides creditors with a certain period during which to make a claim against the estate. If they don't file a claim on time they lose their rights. On the other hand, if they made a claim and the property was conveyed during the time period set aside for creditors, the conveyance will be challenged. It would be viewed as a violation of the executor's obligations under the law. Consider also that title to real estate does not pass legally until the estate is probated. Therefore, no one can sign a quitclaim deed unless the estate has been probated. The answer is no. A quitclaim deed would not automatically stop a creditor. You need legal advice from an attorney who knows all the details.
If your mother passes away and has about 30 thousand dollars in credit card debt how do you stop creditors from putting a judgment on the property?
You can't. Any property titled in the deceased name will be included in probate proceedings. The assets will be totaled up and debts will be paid, secured debts having priority. Some property is not subject to probate or creditor attachment. State statutes govern what is included in the estate and what can be exempted from liquidation in paying creditors and taxes.
What happens when the person paying the mortgage is not on the mortgage and the original mortgagor dies?
Most likely, nothing, as long as the payments continue on time. If the payments stop, the lender with foreclose on the property and the borrower's estate will be impacted. The payments are still due beyond the death of the borrower - they become the responsibility of the borrower's estate. An equally important question is who is now the legal owner of the real estate. If the decedent didn't transfer the property to a survivorship tenancy with another, their estate must be probated in order for title to pass to the heirs at law or under the terms of the will. An estate of real property must be probated in order for title to the property to pass to the heirs legally.
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What division do I send my letter to to stop Adverse Possession of my Property in New Jersey?
You need to record a notice in the land records. You should seek advice from an attorney who specializes in real estate law.
What is the best recommended foreclosure website?
There are agencies who can help you to stop foreclosure. I have saved my house from foreclosure and if you have a foreclosure property then those agencies will buy it at a great price. For foreclosure guide you can visit myprgenie.com you will get stop foreclosure guide by 2brothers real estate
Can probate stop the sale of real estate already in progress if the owner dies?
It can delay the closing but if the decedent fully executed a P&S agreement it is an encumbrance on the real estate. The delay would be in obtaining a deed from the estate. The executor or administrator must have or obtain the power to sell the real estate. You should consult with an attorney who specializes in real estate law.
Can a person with usafrux of property stop heirs from entering property?
The usufruct at civil law is simply a life estate which terminates at the death of the grantee, the property interest of which then reverts to the grantor.
How do you abandon real estate property?
You leave the property and stop paying the mortgage and taxes. However, be advised that your debts regarding the property will keep accruing. If there is an outstanding mortgage the lender will go after you for the amount you owe and legal costs if it forecloses. If you fail to pay your property taxes the town may eventually take possession of the property and sell it. While the property is in your name you have liability issues.
Can a beneficiary stop the sale of a house?
A court appointed executor has the power to sell the real estate if the power to sell real estate was granted in the will or by a license of the court. If the beneficiary is the sole beneficiary and the proceeds from the sale of the real estate are not needed to pay debts then the beneficiary may be able to obtain a ruling from the court against the selling of the real estate.
If you stop paying your mortgage what happens?
The lender will foreclose on the property and the borrower will be evicted. The property will be sold according to the real estate laws of the state in which it is located. HUD property is generally auctioned off at the court house in the county where the property is located. The borrower may or may not have redemption rights to the property and may or may not be responsible for any outstanding debt connected to said property.
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How does real estate foreclosure work?
Generally and briefly: You transfer your ownership of your property to a lender in exchange for a loan of money. If you pay off the loan the lender will release its interest in the property. If you don't pay off the loan and stop making payments the lender can take possession of the property and sell it to a new owner in order to get back its initial investment.
Should you go to a probate court?
If a person dies owning property an estate representative must be appointed by the probate court in order to obtain the legal authority to collect and distribute the assets after the decedent's debts are paid. They must perform their duties according to state laws that govern estates.If the decedent owned real property, the estate must be probated in order for title to pass to the beneficiaries or heirs at law legally. The property cannot be sold until the estate is probated.If a person dies owning property an estate representative must be appointed by the probate court in order to obtain the legal authority to collect and distribute the assets after the decedent's debts are paid. They must perform their duties according to state laws that govern estates.If the decedent owned real property, the estate must be probated in order for title to pass to the beneficiaries or heirs at law legally. The property cannot be sold until the estate is probated.If a person dies owning property an estate representative must be appointed by the probate court in order to obtain the legal authority to collect and distribute the assets after the decedent's debts are paid. They must perform their duties according to state laws that govern estates.If the decedent owned real property, the estate must be probated in order for title to pass to the beneficiaries or heirs at law legally. The property cannot be sold until the estate is probated.If a person dies owning property an estate representative must be appointed by the probate court in order to obtain the legal authority to collect and distribute the assets after the decedent's debts are paid. They must perform their duties according to state laws that govern estates.If the decedent owned real property, the estate must be probated in order for title to pass to the beneficiaries or heirs at law legally. The property cannot be sold until the estate is probated.
