Does anyone have some advice on my real estate issue?

Tyler, TX Viewed 67 times. Posted 10 months ago in Real Estate

My partner and I have a home building business. We just finished our first home in November. The deed to the lot is in both of our names. Our parents gave us the money to build the house so we do not have a loan from a bank. the house has not sold yet. My partner passed away about 2 weeks ago. He did not have a will and we lived in Texas. Since the lot is in both of our names, I do not have survivorship rights to his half. He was not married and did not have kids. His parents are both alive, but divorced. What should I do to make sure that our parents get their money back?? And how is it handled? Through his estate? Can his parents sign the house over to me so it does not go to the estate? - Is this your question? Add additional information

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Answers (1)

George E Meng

This attorney is licensed in Maryland. Posted 10 months ago.

You should suggest to your parents that they see a lawyer soon. Your parents probably should file a claim against the deceased partner's estate. The law differs on this subject state by state. In my state, Maryland, these kinds of claims are lost unless they are filed within 6 months of the date of death. TX is probably different - could be longer or shorter or a different procedure.

Generally the ownership of his 1/2 is handled through a probate process and that would need to start so that whoever are his heirs can control the property. Agains, as to your part of this, it can be sufficiently complicated that you ne legal advice. Gather whatever you have in writing about the deal, the partnership and anything else related to it and get with a lawyer as soon as you can.

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