How Home Ownership Is Transferred After Its Owner Dies

After an individual passes away, it is possible that his or her home could be transferred to a spouse or another family member. If there is a mortgage on the home, it could be repossessed by the lender if no one is willing to pay off the balance. The state may decide who gets a home if an individual doesn’t have a will or trust.

What Happens to a Home That’s in a Trust?

If a home is in a trust, it will transfer to its new owner per the language of that document. In some cases, it may be transferred to multiple beneficiaries who will each own a percentage of that property. A house may also be transferred without the need for probate if it a spouse still lives there of if another person living there has the right to inherit it directly.

What If the Home Is Transferred Through a Will?

There are many possible answers to the question of what happens to a home that has been left to beneficiaries in a will. If there is a balance on a mortgage, the lender could make a claim to the home. If a child or grandchild has not been given an interest in the property, he or she could challenge the terms of the will. A probate attorney in Las Vegas may be able to answer questions about how probate may impact how a home is transferred.

What Happens If There Is No Will or Trust?

In the event that a person dies intestate, his or her assets could be distributed according to state law. This means that a parent, sibling or child may receive the title to a home. The same could happen if a will is declared invalid or is otherwise successfully challenged by a creditor or disinherited beneficiary.