How do I become beneficiary and handle the financial affairs? 6 Answers as of December 19, 2014

My mom has passed but there's no beneficiary. She wasn't remarried and our dad has passed. There are two siblings. The elder one is in a mental institution for the criminally insane. My mother left her house which is upside down. Can I keep it?

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LAW OFFICE OF ROBERT I LONG
LAW OFFICE OF ROBERT I LONG | Robert I. Long
You can keep it until you can't keep it, so long as your possession is lawful in the first instance; e.g., you were already living in the house when mom died. The lender may have an equitable claim against you for the fair value of your use, and certainly for any wanton damage (waste), but lenders rarely pursue those claims if there is no clear indication amounts awarded would be recoverable, commonly referred to as not throwing good money after bad.
Answer Applies to: California
Replied: 12/19/2014
WFB Legal Consulting, Inc.
WFB Legal Consulting, Inc. | William F. Bernard
Where no living trust is created you must petition the court and open probate and become the administrator of the estate.
Answer Applies to: California
Replied: 12/2/2014
Law Ofices of Edwin K. Niles | Edwin K. Niles
If mom didn't have a trust, probate would be necessary in order to pass title. If the property is upside down, you might want to consider just living there (or renting it out) until the lender forecloses, which might be stretched out for a year or so. If you decide to keep the property, you should see a lawyer familiar with probate.
Answer Applies to: California
Replied: 11/21/2014
Law Office of Patricia A. Simmons
Law Office of Patricia A. Simmons | Patrica A Simmons
You will need to file a petition for probate to become the administrator of your mother's estate. If you and your brother are the only children of your mother, you two are her sole heirs and will share equally in her estate unless your brother relinquishes his interest in the estate. You should contact a probate attorney to assist you.
Answer Applies to: California
Replied: 11/19/2014
James Law Group
James Law Group | Christine James
You need to speak directly with an attorney to discuss the specific facts of your case. You may need to file for probate if you want to keep the house.
Answer Applies to: California
Replied: 11/19/2014
    Law Office Of Victor Waid
    Law Office Of Victor Waid | Victor Waid
    Obtain the services of a probate lawyer to probate her estate, if any, and have you appointed administer; yes you can keep the house if you continue to pay the mortgage, unless the bank wants you to refinance the mortgage.
    Answer Applies to: California
    Replied: 11/19/2014
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