Property up for grabs by relatives

by Barbara
(Las Vegas, Nevada US)

Buying a home from a man who is dying and left no will. He has no living children or wife Did not use the bank but gave me a personal loan.....where does this leave me?

Barb

Comments for Property up for grabs by relatives

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Apr 13, 2012
 Property up for grabs by relatives
by: Debtcollectionanswers.com.

When someone dies intestate or without a will and owns property, the deceased's state of residence determines who will inherit his or her property based on the inheritance laws of that state. So, if the dying man has surviving parents, siblings, nieces, nephews, and so on, they would be considered his legal heirs and therefore, they would be in line to inherit his property. This legal transfer of property would be done by the probate court in the county where the man resided although someone -- usually a relative -- would have to initiate the process.

If you and the man from whom you are buying the home executed all of the appropriate legal documents related to the purchase and the home is now in your name, then it is no longer in his "estate." Therefore it would not be included in the property that the court would distribute to the man's legal heirs.

If you did not execute those documents and the home is still in the name of the dying man, then the house IS in his estate and you have a problem. If this is the case and the man is still alive and mentally competent, I recommend you consult with a real estate attorney right away. You may still have time to execute all of the appropriate documents related to the purchase. If he has died, then you should meet with a probate attorney in your area to help you determine how the house will be dealt with, whether you could purchase it from the deceased man's estate, and so on.

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