The deed is still in their name and the mortgage. I have been paying everything since their passing. I fixed it up in both 2016 and 2017 have did not rent out until 2017
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Following the death, the executor, that is you, will file the deceased's will in probate court, where a judge will determine the validity of the will. If it's considered valid, all property and assets are distributed according to the terms of the will.
Did you go through the probate process? Normally, there is a Trust that is set up to handle the estate (paying bills, collecting rent) until all property is distributed. It sounds like right now the house is still owned by the Estate. If you have not gone through probate, I recommend you do so or at least talk to a local attorney and get their input. Every state has different procedures for probate, so I can not give specifics about your situation.
After probate, the house can be transferred to you. You must get the house transferred to your name along with mortgage etc. As long as your parents name is on the property, you can not legally claim tax deductions for the property (like interest and real estate taxes) on your tax return.
Also, for homeowners insurance, and the mortgage company, they need to be notified of your parent's passing.
Following the death, the executor, that is you, will file the deceased's will in probate court, where a judge will determine the validity of the will. If it's considered valid, all property and assets are distributed according to the terms of the will.
Did you go through the probate process? Normally, there is a Trust that is set up to handle the estate (paying bills, collecting rent) until all property is distributed. It sounds like right now the house is still owned by the Estate. If you have not gone through probate, I recommend you do so or at least talk to a local attorney and get their input. Every state has different procedures for probate, so I can not give specifics about your situation.
After probate, the house can be transferred to you. You must get the house transferred to your name along with mortgage etc. As long as your parents name is on the property, you can not legally claim tax deductions for the property (like interest and real estate taxes) on your tax return.
Also, for homeowners insurance, and the mortgage company, they need to be notified of your parent's passing.
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