Foreclosure: Property In Probate, With Objectors
Greetings All!
I have a potential seller in the following situation:
- Mother died, left daughter all of estate.
- Daughter is Personal Representative
- There are 5 claims against the estate from various creditors.
- Daughter lives in mother's home which has gone into foreclosure (Lis Perdens and complaint filed).
- Sons, who were snubbed from the will, are listed as objectors.
The daughter is interesting in selling me the house. I am wondering if I have to worry about the claims against the estate since they are not leins on the property. Also, can the daughter deed me the property without any legal issues? My concern is that the brothers would argue that the contract is not valid if they somehow pushed their way into a portion of the estate.
Thanks a lot for any help.
jfalksvo
This is a great question to take to an attny. Probate law is different in every state and any general advice would be risky unless it came from someone else in wisconsin. It does strike me, however that you might go buy the note and complete the foreclosure. This would foreclose whatever interests the sons/brothers might have. Simultaneously you could get the daugher/sister to quit claim her interests. The bank (especially if it is local) might be wiling to take a substantial discount to get a bad loan off their books and not be seen as foreclosing on the children of the dead woman.