In order to provide a general answer that may be of some use to you, more facts are needed such as the year in which each of your parents died, the value of their property in each such year, whether either of them had children that were not born of their marriage, whether there was any indebtedness on any of their property at the time of their respective deaths. In any event, the appropriate probate procedure will need to be followed in order to pass the property to their respective heirs and to discharge any liability to which such property may be subject.
More information is needed to give a good answer to this. The short answer is, probably the parents children are the heirs and the money from the sale of the property should go to them. However, if the taxes weren't paid, the money would go to the "tax man" first, then the heirs. It all depends on how the house was sold, for what reason, and from whom and to whom.
This answer is not "legal advice" and should not serve as a substitute for the advice of an attorney who is licensed in your applicable jurisdiction. The statements provided herein are for informational purposes only and the recipient of these answers assumes all risk and expressly agrees to seek the advice of the appropriate counsel for his or her situation. Should any formal legal advice be sought, the recipient should contact our law firm at the appropriate phone number or email address.
If both are deceased and there is no will, then property passes according to the laws of probate and inheritance in the state where the property is located (if real property) or the state where they were last domiciled (if personal property). Federal estate taxes, if any, would be the responsibility of the Executor of the Estate to pay. Some states still have state level inheritance taxes (Pennsylvania), but Texas does not. Debts and other payments are handled by the Executor of the Estate. The Executor would be appointed by the Court when a probate action is filed.
Managing an estate and going through probate is complicated and filled with technical legal issues, so you should seek the advice of legal counsel to handle this for you.
Information provided in this forum is for generalized discussion proposes and should not be considered legal advice. NO ATTORNEY-CLIENT RELATIONSHIP IS CREATED THROUGH THIS INTERACTION. While claims or statements made in communications on this forum are believed to be reasonably accurate at the time they are made, no warranty is made or implied as to their accuracy or completeness and such statements may not be relied upon, may not be used for tax or other filings, and may not be relied upon for relief from any interest or penalties.
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