Lost my dad this past Friday. Then I found this out. Need some advice.

originally posted by: Mach2

originally posted by: KKLOCO

originally posted by: CriticalStinker
a reply to: edaced4

Most states require a heads up of eviction, this is typically a month but can be longer.

Not if his father had a mortgage. It complicates matters worse with 2nd and 3rd mortgages (which benefits the OP).

You have MANY Months to live in that house. Disregard the move out notices. When you finally get the 72 hour eviction notice— move out. My guess is that won’t come for 3-6 months. It all depends on the bank.

I spent 10 years as a realtor and another 5 in foreclosures after that.

I concur with the above OP. Most banks are really in no rush to evict you. They have to go through a lengthy legal process to take possession, and resell the house, and as long as someone is living there, there is less chance of vandalism, and theycare not paying for upkeep like lawn maintenance, etc.

When my mom passed, it was nearly a year before they got around to it. You can stretch that out by dodging process servers, but I had no reason to do that, as I wasn't living there.

Absolutely, in the 08’ aftermath, I saw houses sit for 5 years in foreclosure.

They’ve tightened things up since then. The OP honestly has probably 6 months in that house due to the multiple mortgages.

Honestly OP, I can’t stress this to you more.... do not let the harassment letters scare you. Wait until you get a notice from a city official. The banks sit on foreclosures for forever. All the while — oppressively try to get you to move out and forfeit your equity.

a reply to: edaced4

Is there any chance that your father had mortgage insurance that would pay off what is owed against the house in the event of his death? That could make a HUGE difference and while nowadays mortgage insurance is something one must seek outside of the banking system and is a bit on the expensive side not too many years ago you could get if for fairly cheap from the lender and add it to the monthly note- it really depends on how old the mortgage(s) is/are. Talk to an attorney!

a reply to: edaced4

You have already received great advice by other members, but I wanted to come in to give you my sympathy in the loss of your Father. I lost my own Dad many years ago and know what that feels like. Gentle hug for you.

Sorry about your dad but...You should be asking professionals for advice, not people on a conspiracy site that know little of nothing about the law.

www.rocketlawyer.com...#/

a reply to: edaced4

The IRS, hospital, funeral home, and any other creditor can put a lien against the property. If you only owe 90k and there is no liens against it, which a title company should be able to determine, then just buy it. Thats like 800/mo mortgage with property tax and insurance escrowed.

You need to discuss with a probate attorney. In some states if the total value of cash and property does not exceed 250k you can file a "small estate affidavit" and slip it through probate before any creditors notice.

Any investments you get a leg up and will only owe gains using the cost basis of its value on the day after his date of death when you cash out on it.

This is not the place to resolve this matter tho, spend 250$ on a decent probate attorney.

a reply to: terriertail

originally posted by: Veryolduser
Well he’s backwards on the house so you can expect that to vanish. This situation happened to me while in college except my father and I lived in an apartment. The very minute they found out my father passed they gave me 30 days all while I had one class left to finish and get my degree. In that month I had to pick up his remains “cremation” plan a wake and finish my senior project, move everything, find a new place to live and clean out his garage “dad was kind of a hoarder”. His friends donated a lot of help and money. But that past month of college sucks and to cap it off he wasn’t there so I could thank him for helping me get my degree.

Right now your worried about yourself and that important but trust me when I say when a parent dies you will always feel it and it doesn’t get better with time. My dad missed my daughters miles stones and birthdays and everyone of them I wanted him there. He missed my wedding, he missed my graduation, he missed all the little moments you take for granted. It hits harder when all you want is to talk to someone you trust and they are not there.

Don’t worry about the house or inheritance it’s just stuff what you lost you can’t buy with money.

This poster has obviously walked the walk and they can talk the talk. Lost my Father over 3 years ago found out lots of stuff but most of all what a great man he was to all his kids and grandkids even more than we could fathom. He took on a tremendous burden financially for decades making sure we all had not only a great childhood but trained 3 of us in business we are still in. The 28th would have been his 80th birthday on the 29th we auctioned off all his and mom's possessions from over 60 years of marriage and life and moved my Mom in with my sister. All these years he kept the family business afloat by using the house and his life insurance, he never once complained, let on, or was even negative. Looking back we all respect and love him even more.

So while it sucks to find this stuff out in times as they are, and like I told the rest of my family may be just maybe how we are was one reason Dad choose not to confide completely to us.

First off, I am so sorry for you and your families loss. Sincere condolences.

With that said...

My dad passed in '96 and within a few days, as we were working on taking care of his estate and his wake / funeral - we were contacted by the IRS.

Dad hadn't filed or paid income taxes in over a decade.

It was a surreal and horrible experience. The IRS froze his assets and accounts. They seized his 3 vehicles. Two he'd owned outright and one he'd cosigned for with a woman he was either friendly with or dating. We were even forced to turn over an expensive hearing aid that he'd purchased just a few days before his death.

Then things got fully out of hand.

I had a life insurance policy with a cash value that my parents had purchased for me when I was a child. The policy had been accruing interest for decades and was sizeable. My father was listed as the beneficiary on that policy and, because of that fact, the IRS got that as well. They cashed out MY life insurance - in addition to taking most of his as well.

They also seized his burial plot. A nook for an urn in a fairly famous and expensive cemetery in California.

I don't know if anything about how they operate has changed in the past 23 years, but I hope so because while the money and the things were not an issue, really... The timing and the calloused manner in which they operated very definitely was.

I wish you and yours the best.

Go to your local public library and ask them about legal resources. They may know of a service where you can talk to an attorney for free for an hour or get reduced cost legal help based on your income.

My mom's late husband borrowed against their house because he was sick the last decade of his life and not able to work as much. When he would bring up the issue of selling the house my mom would get very upset and resist the idea, but she was not aware of the financial straits they were in. So after he died she ended up losing her house, too.

Sal

a reply to: edaced4

originally posted by: Bhadhidar
First question, was the house bequeathed to you in a will?
If so, it’s unlikely that the IRS can touch it.

Admittedly I don't know anything about American law, but I'm not sure OP can rely on that dictum. As I understand probate procedures, debts are priority and get paid first. Legacies are paid from whatever is left over.

originally posted by: visitedbythem
I would take his valuables and belongings out of there. Those are yours now

ollow this advice

If you follow this advice, you are setting yourself up to being arrested for a theft arrest. The property is not yours until properly and lawfully transferred to you by the estate's personal representative, either the executor if there is a will or the court appointed administrator, if there is no will. The property belongs to the estate, a legal entity subject to probate court supervision. Depending on what state you are in, there may be an informal fast-track procedure for handling the estate.
Unless you routinely go to a plumber for your physical checkups, be careful of asking conspiracy sites for legal advice.

a reply to: edaced4

Something similar happened to a good friend of mine.

He lived with them for many years, until one day his step-father died, and a few months later, so did his mother. Come to find out, that house has also been refinanced and reversed mortgaged so much that more was owed than it was worth.

He lived there for at least two more years, but the house ended up being foreclosed on and seized by the bank, and he was legally evicted.

Find another place, because there's no way you could or should shell out 90-180K just to keep it, and you're not liable for it.

Just take yours and their stuff, and move. That's the simplest action.

originally posted by: visitedbythem

originally posted by: F4guy

originally posted by: visitedbythem
I would take his valuables and belongings out of there. Those are yours now

ollow this advice

If you follow this advice, you are setting yourself up to being arrested for a theft arrest. The property is not yours until properly and lawfully transferred to you by the estate's personal representative, either the executor if there is a will or the court appointed administrator, if there is no will. The property belongs to the estate, a legal entity subject to probate court supervision. Depending on what state you are in, there may be an informal fast-track procedure for handling the estate.
Unless you routinely go to a plumber for your physical checkups, be careful of asking conspiracy sites for legal advice.

Sounds like a left wing reply.

Why? Does the left have a monopoly on knowing the law?

originally posted by: F4guy

originally posted by: visitedbythem

originally posted by: F4guy

originally posted by: visitedbythem
I would take his valuables and belongings out of there. Those are yours now

ollow this advice

If you follow this advice, you are setting yourself up to being arrested for a theft arrest. The property is not yours until properly and lawfully transferred to you by the estate's personal representative, either the executor if there is a will or the court appointed administrator, if there is no will. The property belongs to the estate, a legal entity subject to probate court supervision. Depending on what state you are in, there may be an informal fast-track procedure for handling the estate.
Unless you routinely go to a plumber for your physical checkups, be careful of asking conspiracy sites for legal advice.

Sounds like a left wing reply.

Why? Does the left have a monopoly on knowing the law?

That's a certain type of person that worships government as god and it runs through the fabric of their life. long ago, they came up with the word wicked, from the twisting of the wick. those same people on the far left are twisted.

a reply to: edaced4


First off sorry for your loss.

Secondly the advice about getting a lawyer as others have given is a good start.

Unfortunately, Yes, the IRS can seize the house and sell it and the personal property of your father (like a car etc, tools, etc) in order to recoup what it is owed.

The Bank can sell his home in order to recoup his debt and put a lean his estate on any other financial assets like a 403b etc, life insurance etc.

You may have to prove that your personal items are yours (bigger assets like a car etc) especially if they get aggressive and they will in all likelihood look at your bank records to make sure money was not being hidden in your accounts.

The attorney while expensive would make sure that if there are any other assets left you can inherit them and perhaps keep the wolves at bay for any of your father personal property that has sentimental value etc if you want.

That being said you have ZERO obligation to repay his back taxes or mortgage debt

a reply to: edaced4


Who is the executor?

originally posted by: DISRAELI

originally posted by: Bhadhidar
First question, was the house bequeathed to you in a will?
If so, it’s unlikely that the IRS can touch it.

Admittedly I don't know anything about American law, but I'm not sure OP can rely on that dictum. As I understand probate procedures, debts are priority and get paid first. Legacies are paid from whatever is left over.

If there is a valid Will in place at the time of death, nothing listed in the Will will be subject to Probate, those items become the property of the bequeathed at the moment of the deceased passing.

If the OP was bequeathed the house in a proper will, he inherits the house at its Fair Market Value (FMV).

Since the house passes through inheritance under those circumstances, there is no “sale” to generate proceeds which the IRS would be able to attach, unless a lien was actually filed against the property itself, rather than real property associated with the deceased SSN.

originally posted by: Bhadhidar

originally posted by: DISRAELI

originally posted by: Bhadhidar
First question, was the house bequeathed to you in a will?
If so, it’s unlikely that the IRS can touch it.

Admittedly I don't know anything about American law, but I'm not sure OP can rely on that dictum. As I understand probate procedures, debts are priority and get paid first. Legacies are paid from whatever is left over.

If there is a valid Will in place at the time of death, nothing listed in the Will will be subject to Probate, those items become the property of the bequeathed at the moment of the deceased passing.

If the OP was bequeathed the house in a proper will, he inherits the house at its Fair Market Value (FMV).

Since the house passes through inheritance under those circumstances, there is no “sale” to generate proceeds which the IRS would be able to attach, unless a lien was actually filed against the property itself, rather than real property associated with the deceased SSN.

I'm afraid you are very wrong. While it may differ from state to state, almost every state requires a will to be admitted to probate, requires a personal representative to be appointed, and requires a notice to creditors be filed. An estate tax return must be filed if the asset limit is met, and a final estate income tax return must be filed. Debts are paid by marshalling and liquidating estate assets. In most states, payment of debts is prioritized. In Florida, for example, funeral expenses get paid first, then tax debts get paid. Finally, general debt creditors get paid with secured creditors like home mortgagees and secured car loan lenders getting paid from their collateral. If, and only if, there is anything left after payment of allowed creditor claims, the beneficiaries get their inheritances. If, after payment of debts, there is nothing left, the estate is insolvent. In some states, a spouse or minor children get a small allowance even before payment of debts. If the state's descent and distribution laws are not followed, the personal representative (executor or administrator) can have personal liability, and in some circumstances, a beneficiary can have either civil or criminal liability. I'm just trying to keep the OP out of trouble. I practiced estate law for 40 years and saw a lot of people destroyed by ignoring the law. The IRS has no sense of humor.