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Estate Distribution Clarification
Summary
In Massachusetts, if a property is sold for $200,000 with a $60,000 mortgage, the net proceeds are $140,000. Each estate may receive $70,000, depending on the will or intestacy laws. If your mom was on the deed but not the mortgage, her estate might not be directly responsible for the mortgage. The distribution of the remaining proceeds depends on the will or intestacy laws. If Kenny had no will, his estate follows intestacy laws, while your moms estate follows her will.Full Conversation
I have the house sold for * k mortgages was left with 60k
It sounds like the house was sold for $*,*, and after settling the mortgage, $*,* was left. Generally, the remaining amount would be distributed according to the terms of the will or state intestacy laws. Is there anything specific you need help with in this process?
60k was left on mortgage
It sounds like there's some confusion regarding the sale proceeds and the remaining mortgage. To clarify:
- If the house was sold for $*,* and the mortgage was $*,*, then $*,* should be left after paying the mortgage.
- The remaining amount is typically distributed according to the will or intestacy laws.
Is there a particular aspect of the distribution or estate process you need help with?
- If the house was sold for $*,* and the mortgage was $*,*, then $*,* should be left after paying the mortgage.
- The remaining amount is typically distributed according to the will or intestacy laws.
Is there a particular aspect of the distribution or estate process you need help with?
If my mom was not part of the mortgage my moms estste shold be 100k right
Case Rating: *
In Massachusetts, if your mom was not part of the mortgage but was on the deed, her estate wouldn't directly be responsible for the mortgage. When the house was sold for $*,*, the mortgage of $*,* should be paid first, leaving $*,*. This remaining amount would typically be distributed according to the will or state intestacy laws.
If both parties on the deed are deceased, the distribution would depend on how their estates were structured and any applicable laws. It may not necessarily be an even split. Would you like more information on how estates are divided under intestacy laws?
In Massachusetts, if your mom was not part of the mortgage but was on the deed, her estate wouldn't directly be responsible for the mortgage. When the house was sold for $*,*, the mortgage of $*,* should be paid first, leaving $*,*. This remaining amount would typically be distributed according to the will or state intestacy laws.
If both parties on the deed are deceased, the distribution would depend on how their estates were structured and any applicable laws. It may not necessarily be an even split. Would you like more information on how estates are divided under intestacy laws?
If half of the house is my moms than would that be 100k per beneficiary
Case Rating: *
In Massachusetts, if half of the house is considered part of your mom's estate, the distribution will depend on the will or intestacy laws. If the estate is divided equally among beneficiaries, each may receive $*,* after settling the mortgage, not $*,*. Do you need more information on intestacy laws?
In Massachusetts, if half of the house is considered part of your mom's estate, the distribution will depend on the will or intestacy laws. If the estate is divided equally among beneficiaries, each may receive $*,* after settling the mortgage, not $*,*. Do you need more information on intestacy laws?
Kennys son is pr for his dad i will be for my mom kenny had no will my mom did
Case Rating: *
It seems like you're dealing with a complex estate distribution issue. Since Kenny had no will, his estate will be distributed according to intestacy laws, while your mom's estate will follow the terms of her will.
Here's a brief overview:
- Intestacy laws: These govern the distribution of assets when someone dies without a will. Typically, assets are distributed to the closest relatives.
- Will distribution: Your mom's estate will be distributed according to her will.
Would you like more information on how Massachusetts intestacy laws work, or do you have any specific questions?
It seems like you're dealing with a complex estate distribution issue. Since Kenny had no will, his estate will be distributed according to intestacy laws, while your mom's estate will follow the terms of her will.
Here's a brief overview:
- Intestacy laws: These govern the distribution of assets when someone dies without a will. Typically, assets are distributed to the closest relatives.
- Will distribution: Your mom's estate will be distributed according to her will.
Would you like more information on how Massachusetts intestacy laws work, or do you have any specific questions?
If my mom not responsible for the loan and house is sold at 200k what is my moms half of the estate
Case Rating: *
Based on your description, if your mom's estate is entitled to half of the house, and the house was sold for $*,* with a remaining mortgage of $*,*, the net proceeds would be $*,*. Her half would be $*,*. The distribution depends on the terms of her will or intestacy laws. If you need more specific guidance on intestacy laws, feel free to ask!
Based on your description, if your mom's estate is entitled to half of the house, and the house was sold for $*,* with a remaining mortgage of $*,*, the net proceeds would be $*,*. Her half would be $*,*. The distribution depends on the terms of her will or intestacy laws. If you need more specific guidance on intestacy laws, feel free to ask!
But wouldnt that be that my mom paid off half the mortgage
Case Rating: *
It sounds like you're questioning whether your mom's estate should be responsible for half the mortgage. Generally, if she wasn't on the mortgage, her estate might not directly pay it off. The sale proceeds cover the mortgage, and the remainder is distributed. Would you like more details on estate distribution?
It sounds like you're questioning whether your mom's estate should be responsible for half the mortgage. Generally, if she wasn't on the mortgage, her estate might not directly pay it off. The sale proceeds cover the mortgage, and the remainder is distributed. Would you like more details on estate distribution?
If the house is 200k and half of that is my moms and other half is kennys should i get the 100k
Case Rating: *
If the house is sold for $*,*, and your mom's estate is entitled to half, her estate would receive $*,*. However, since there's a $*,* mortgage, it would be paid from the sale proceeds, leaving $*,* total. Each estate would likely receive $*,* after the mortgage is settled.
If the house is sold for $*,*, and your mom's estate is entitled to half, her estate would receive $*,*. However, since there's a $*,* mortgage, it would be paid from the sale proceeds, leaving $*,* total. Each estate would likely receive $*,* after the mortgage is settled.
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