Here are some facts. With out being in Florida we are having trouble getting answers (or understanding the 50 pages that were served).
1. Mother was in Florida and owns a home that was in foreclosure.
2. There is something about a Homestead Property Act in Florida
3. Mom died and the 4 kids are being served all over the states for the balance.
4. The bank is trying to take the kids assets
5. The loan is not the original one, this is from back in 1984
6. Now that mom is dead what do the kids do? Not sure they can all make it to Florida
How can they clear the debt with out being sued? Why are they being sued?
Thanks for all your help
2007-10-05 02:25:47 · 6 answers · asked by sportypenny 1 in Politics & Government ➔ Law & Ethics
If you were named in a law suit, you will have to talk to an attorney. Without seeing the Complaint, I do not see how it is possible that you would have to pay anything to anyone.
After Mom died, was an estate set up? If so the executor of the estate would have to determine if there is money to pay for the house.
2007-10-05 02:30:19 · answer #1 · answered by regerugged 7 · 0⤊ 0⤋
From these limited facts--
1. When mom recorded a "homestead declaration", this protected some of her equity in a foreclosure. I don't know Florida's law, but let's say the protected equity was $25,000. If she recorded the homestead declaration before the loan refinancing in 1984, then in a foreclosure sale $25,000 goes to her first and then rest of the proceeds go to pay off the bank loan.
2. If the foreclosure sale left the bank short of repayment, they are suing Mom for the "deficiency". As Mom is gone, they are suing her estate/beneficiaries--the children.
3. Questions all the children should ask of one Florida lawyer they hire together: What are Florida's anti-deficiency laws? How can the bank attack a valid homestead declaration?, among others.
You may need two lawyers here. One for the real estate litigation questions, and a Florida probate lawyer. Start with the real estate litigator.
2007-10-05 03:58:47 · answer #2 · answered by raichasays 7 · 0⤊ 0⤋
If the mother passed away, the children are named in the foreclosure for any possible interest they have in the subject property.
The bank cannot take assets of the children but can take
assets of the estate.
You need a lawyer in FL. One lawyer should be able to represent all 4 children unless a conflict occurs among them.
Best of luck to you.
2007-10-05 02:31:16 · answer #3 · answered by Anonymous · 2⤊ 0⤋
I don't specifically know about florida, but i have never heard that it was legal for a state to sue the children of a dead woman for her debt. They may take everything she had and sell it, but you are not responsible for a loan you did not sign for.
2007-10-05 02:35:45 · answer #4 · answered by L H 4 · 0⤊ 0⤋
Best Answer from me would be: Each Kid should contact an attorney where they live that also has practicing rights in the state of florida this way each kid is properly represented and then follow the advise of the attorney you retain.
2007-10-05 02:35:18 · answer #5 · answered by beebop 1 · 0⤊ 1⤋
You need to get legal help in the state of Florida....
2007-10-05 02:33:46 · answer #6 · answered by Bob D 6 · 0⤊ 0⤋