Intestate estate

daithi1977

Hi Folks

New member and first time poster so apologies if I'm in the wrong thread.

Well my Dad suddenly on Friday aged 60 and he left no will. His estate is the family home which he owned in full but he borrowed against it in 2008 and was in difficulty due to job loss and health issues including stroke and heart problem and despite attempted resolutions and letters from consultants warning that my dad was not to be put under stress the lender(aggressive sub prime crowd) piled on the pressure and seem pretty determined to take possession and court date is set for possession.

Early indications are he had massive cardiac arrest.

we were aware he was in some difficulty but not to this extent. he left no life assurance and
I believe he had no mortgage protection as he borrowed over the age of 50.

I called the lender and they wouldn't entertain me or disclose anything . Citizens advice couldn't really tell me anything.

So I'm basically wondering Where We (myself and brothers) would stand on this from a legal point of view . Do We, as next of Kin automatically inherit the estate ? (mam also deceased)

The house is worth at least twice what he owed but from what I can gather from the legal jargon I'm reading from them The entire estate will pass to them ?

My youngest brother lives in the house with his child.

Any advice on this would be greatly appreciated.

P. Breathnach

I am sorry for your loss, and that the distress is compounded by an aggressive lender.

Where there is no will, a person should apply to be made Administrator of the estate. That is normally next of kin. Where there is no surviving spouse, it can be an adult child of the deceased (preferably with the assent of the other children).

The Administrator, once appointed, takes control of the assets of the estate and must arrange for the payment of debts.

In the circumstances you describe, it seems to be a matter of some urgency that an Administrator be appointed without delay. I suggest that you meet with your siblings and agree who is to apply for Letters of Administration. If that person is not comfortable acting without professional assistance, the next step is to appoint a solicitor to assist. It is wise to agree in advance with the solicitor what fees are to be charged. There might also be outlays in addition to the fees, so ask the solicitor to indicate how much they might come to.

The mortgagee will have to queue up like any other creditor, and be reasonably co-operative. It is possible that interest charges might continue to pile up, so you should seek a copy of the mortgage.

Peregrinus

In the circumstances you describe, you and your brothers will inherit your father's estate. The estate does not pass to the lender, but they still have a mortgage over the property and they can still enforce it.

As P. Breathnach says, it is very much in your interests to move quickly on this. One (or more) of you will need to get yourselves appointed as administrator of the estate, and you will have to sort out matters with the lender. Unless there are other assets in the estate it seems likely that the house will have to be sold to cleard the debt, and whatever is left (which from what you say should be a reasonable amount) goes back into the estate to be divided between you. Selling the house will be painful - especially for your younger brother who is living there - but certainly less painful, emotionally and financially, than have it repossessed in court.

If the lender is satisfied that you are moving quickly to administer the estate, sell the house and clear the loan I would have thought that they should agree not to pursue their repossession proceedings aggressively - and, if they do, a court is likely to be sympathetic to you and give you a bit of time to complete the sale yourselves. But definitely take professional legal advice on this, and do it at an early stage.

Mr. Incognito

Speak to a solicitor.

daithi1977

Hi Guys

Many thanks for the prompt replies and apologies for my late one.

Really appreciate the advice and I will be speaking to a solicitor Monday .