Can you keep a mortgage in a dead person's name?
The general rule is that a mortgage may not stay in a deceased person's name, however exceptions may apply. Generally, if a person dies, the title will transfer. If the title transfers, it invokes a due-on-sale clause.
How do I sell shares of a deceased person?
Selling certified shares that form part of an estate
“Check any paperwork you have relating to the shares and you'll see who the registrar is.” You can then ask the registrar for a share sale form. Complete this and send it off along with the grant of probate and the death certificate in order to sell.
What is a property transferred by will called?
A will is a legal instrument a person uses to convey her intent regarding how her property should be distributed upon death. Transfer of real estate by will is called a devise.
How is the value of a house determined in an inheritance?
When an heir inherits property, the base value is “stepped up” or “stepped down” from the original purchase price to its date-of-death fair market value. This new property value is used to calculate the estate value, taxes, and beneficiary distributions, rather than the original property value.
Can you become a broker without being an agent in Georgia?
For one, an agent must work under a licensed broker, whereas brokers can work for themselves and/or hire agents to work for them. Becoming a broker in Georgia also requires completing additional coursework and working a minimum of three years as an agent.