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  1. #1
    Join Date
    Dec 2007

    Default Property in Nevada

    My question involves estate proceedings in the state of: Nevada

    My mother in law recently passed away in June. My name and her name were on the mortgage and deed of the property I currently live in. A couple of months before her death, my husband and I refinanced the mortgage together without her name on the property at a lower interest rate. Now I have creditors calling wanting us to settle her debt and are threatening to take us to probate court if we do not take a settlement deal.

    My question is.. can they do this since at the time of her death she was not a legal owner of the property?

    We currently do not have any equity in the home to settle the debt due to the property values lowering.

    Her loan was a cash loan for approx $11,000 that she took out before she got sick.

    Thanks for any input...

  2. #2
    Join Date
    Jan 2008
    Toledo, OH

    Default Re: Property in Nevada

    I must admit to being a little confused.

    Your MIL held the house note. Then you and your husband re-fi'ed, and she was no longer on the house note. Now the bank wants $11K from her estate?

    Was there another loan that she used the property as collateral for?

  3. #3

    Default Re: Property in Nevada

    The mortgage and deed are two separate issues. She would have had to transfer her interest in the house to you by a deed that has to be recorded at the courthouse. If she borrowed the money using the house as collateral prior to the transfer, you took the property subject to that mortgage. Therfore you owe the money.

  4. #4
    Join Date
    Dec 2007

    Default Re: Property in Nevada

    Sorry for the confusion.

    The mortgage and the deed were in both my name and MIL.

    The deed was transferred over in January 2008 to my husband and I.

    Then we found a new mortgage in May 2008 in my husband and my name.

    MIL passed in June 15, 2008.

    The debt my MIL had was credit card debt and a signature loan. She never used the house as collateral.

    But creditors are calling now saying that a probate judge can be ordered to open up our property for all creditors to collect on her debt.

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