PC On Title Only To Mother's Home
Posted: Mon May 01, 2017 5:09 pm
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I have filed where PC was on daughters title and loan in another state. Same situation, PC was an owner in name only. Trustee made me turn over mortgage payment info and FMV calculation, and was fine with it as it was included in the exemption amount. But I think I got lucky because I was able to show that the daughters house had very little equity. I also heard from the daughter month later that she had decided to not pay the mortgage for months while her moms BK was pending because I did not get a payment statement in the mail.
I know people do this adding title thing as a way to avoid preparing a trust and properly administering an estate after death, but in the long run, a competent trusts and estate lawyers to do this right is really the way to go.
Desiree Causey, Esq.
Law Office of Desiree Causey
7755 Center Avenue, Suite 1100
Huntington Beach, CA 92647
714-372-2225 (phone)
714-908-7646 (same fax number)
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