Will Beneficiary Passed Away

Summary

In New Mexico, if a wills beneficiary dies before the testator, the inheritance usually goes to the deceaseds descendants under the anti-lapse statute. If the beneficiary is in another state, coordinate for item delivery and keep records for personal documentation. Mortgage companies can foreclose during probate if payments arent made, but negotiation is possible. Selling the inherited house to pay off the mortgage is an option, either through a real estate agent or directly to investors. Consider a short sale if the mortgage exceeds the sale price.

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If someone is listed in a will but they have passed what happens to the belongings they were supposed to receive
Hey Kelly! In Texas, if a beneficiary in a will passes away before the testator (the person who made the will), the belongings they were supposed to receive usually go to their heirs, unless the will specifies otherwise. This is known as "anti-lapse" statute.
Do you have a specific situation or more details you'd like to share?
I live in New Mexico what does New Mexico say what happens if someone is listed in a will but has passed away who do those belongings go to
Hey Kelly! In New Mexico, if a beneficiary in a will passes away before the testator, the state's "anti-lapse" statute generally directs that the inheritance goes to the deceased beneficiary's descendants, unless the will specifies otherwise.
Is there a specific situation or detail you need more clarity on?
If the beneficiaries defendant lives in another state is there different paperwork that needs to be done or how does it show if they receive the items or do I just hold on to it until they are able to pick up the belongings
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Hey Kelly! If a beneficiary lives in another state, you typically need to coordinate with them to ensure they receive their inheritance.
- Confirm their address and preferred method of receiving items.
- Use tracking or certified mail for shipping items.
- Keep records of all communications and shipments.
Do you have more specific details about the belongings or any particular concerns?
Do these records of sending the items court ordered
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Hey Kelly! Generally, the records of sending items to a beneficiary are not court-ordered but are important for your own documentation. Keeping these records helps ensure that you have proof of fulfilling your obligations.
Do you have any specific concerns about sending the items?
No
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It appears that you have a general question regarding the distribution of items to a beneficiary in another state. While keeping records is important for your own documentation, it is not typically court-ordered. If you have any more specific questions or concerns, feel free to ask!
Can the mortgage company foreclose on the house while in probate
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Hey Kelly! In Texas, a mortgage company can initiate foreclosure proceedings on a house during probate if the mortgage payments are not being made. However, the executor can work with the mortgage company to try to prevent foreclosure.
Is the mortgage currently being paid, or is there a specific issue with the mortgage company?
I live in New Mexico can he mortgage company foreclosing the house while in probate
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Hey Kelly! In New Mexico, a mortgage company can initiate foreclosure proceedings on a house during probate if the mortgage payments are not being made. The executor of the estate can try to negotiate with the mortgage company to prevent foreclosure.
Is the mortgage currently being paid, or is there a specific issue with the mortgage company?
No they are not being paid I am currently unemployed and in the will it states that I get the house but I want to turn around and sell it
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Hey Kelly! Here are some steps you could consider:
- Contact the mortgage company to inform them of the situation and explore any options for delaying foreclosure.
- Discuss with the executor about selling the house to pay off the mortgage.
Would you like more detailed guidance or have any specific questions?
in the will it states that I get the house but I want to turn around and sell it
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Hey Kelly! If you want to sell the house, here are a few steps to consider:
- Confirm that the house is officially transferred to your name.
- Pay off any remaining mortgage balance using the sale proceeds.
- Consult with a real estate agent for the best selling strategy.
Do you have any specific questions about the selling process?
What if I'm not able to pay off any remaining mortgages I want to sell to somebody to pay off the mortgage
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Hey Kelly! If you want to sell the house to pay off the mortgage but are worried about not covering the remaining balance, here are a few steps:
- Short Sale: Contact the mortgage company to discuss a short sale, where the house is sold for less than the remaining mortgage balance.
- Executor Assistance: Work with the estate's executor to facilitate the sale.
- Professional Help: Consult a real estate agent experienced in short sales.
Would you like more detailed guidance or have any specific questions about this process?
Does it have to go through a real estate agent or can I find somebody who buys houses to fix
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Hey Kelly! You don't have to use a real estate agent if you prefer not to. You can sell directly to an investor or someone who buys houses to fix. Here are your options:
- Real Estate Agent: They help market and sell your home, often getting a better price.
- Direct Sale: Find investors or buyers interested in fixing up the house for a quicker sale.
Do you have any specific questions about finding buyers or the selling process?
How do I find a buyer
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Hey Kelly! Here are a few ways to find a buyer for your house:
- Online Listings: Post on websites like Zillow, Craigslist, or Facebook Marketplace.
- Local Investors: Search for local real estate investors or companies that buy homes for cash.
- Networking: Ask friends, family, or local community groups for referrals.
Got any more questions or need help with any step?