2007-03-08 08:04:18 · 18 answers · asked by PlatoQ 1 in Business & Finance ➔ Renting & Real Estate
you should figure it out and put it in your will.
2007-03-08 08:06:49 · answer #1 · answered by tiKa 2 · 1⤊ 1⤋
This is a question of intestate or testate. Simply put: if you have heirs, then they will receive your property (both real and personal) via probate. If you have no heirs AND no will (holistic or written), the state will eventually take your property after an exhausting research. In the state of California, the time period is 5 years. If you want to direct the probate courts in any direction, then, at the very least, get pen and paper in hand and write it out.
2007-03-08 16:24:29 · answer #2 · answered by ucla987 2 · 1⤊ 0⤋
I would set up a will with an executor you can trust. You can use an attorney who will make sure whomever you designate gets title to the property. They can also help in selling the house if that is required. If you have no will, anyone who is even a little related to you can tie the property up for years. The only ones who make out then are the lawyers.
2007-03-08 16:10:42 · answer #3 · answered by boldkevin 3 · 1⤊ 0⤋
It to some extent depends on the state you live in. If you have it in joint tenancy with a spouse, in most states it passes to them without being effected by an estate. If you don't have a spouse and are the sole owner, again, depending on the state, it will pass to the devisee in your will (the heir you designate) with outstanding debits and taxes will depend on the state. If you have no will, again depending on the state, your heirs will divide the property according to the inheritance laws and outstanding debits of the estate
2007-03-08 16:09:15 · answer #4 · answered by wizjp 7 · 1⤊ 0⤋
I am assuming the deed to your home was in your name only. If you own your house without a mortgage, then it will pass on to your heirs. They can sell it or rent it. If you have a mortgage, your heirs can decide to sell it and pay the mortgage, or rent it out and continue paying the mortgage. It will be re-titled into your heir(s) names. Who will your heirs be? Assuming you haven't left a will, if you are married, your wife and any children. If you are not married, your children, if any, and if no children, it goes back to your parents, then your siblings, their children, etc.
2007-03-08 16:09:26 · answer #5 · answered by Mrs. Strain 5 · 1⤊ 0⤋
What will happen is up to you.See when you write out your will before you die make sure you give your house to somebody you can trust.Like mabey your kids. Only then you will know what will happen to your house.Hope I helped. :)
2007-03-08 16:08:43 · answer #6 · answered by TomBoy 360 1 · 1⤊ 0⤋
It stays there. It will not die with you.
2007-03-08 16:18:11 · answer #7 · answered by comradechris 3 · 1⤊ 1⤋
it all depends if you made out a living trust or not if you did it will go to the person you had named if your married and bought it together than it will go to you wife if you If you didn't make one it will go to your wife if you don't have a wife then your kids
2007-03-08 16:11:31 · answer #8 · answered by kitty 6 · 0⤊ 2⤋
It quietly sits there, waiting for someone else to move in.
2007-03-08 16:06:42 · answer #9 · answered by Anonymous · 1⤊ 1⤋
It will go to the bank if your closest relative can't make the mortgage payments
2007-03-08 16:07:03 · answer #10 · answered by Samantha 6 · 0⤊ 4⤋
If you own it, it goes to your heirs. If you don't own it, your death has no affect on it whatsoever.
2007-03-08 16:06:34 · answer #11 · answered by MOM KNOWS EVERYTHING 7 · 1⤊ 1⤋