At this point the home is owned by the mortgage and we have a dead line to prove intent to sale and satisfy the loan.
Is it even a part of the Will ? Since the Mortgage Co tacitly owns the house apon my mother passing.
It is not clear to me whether the house is in foreclosure, or what is going on in the background. But as to the question of whether the house is covered in the will, it depends on whether it is held in joint tenancy with right of survivorship with anyone. If held with someone else in this fashion it passes out of a will, directly to the other owner. If it is just in your mother's name, then yes, it would be part of her probate estate, whether or not she made a will. Of course, the mortgage company is entitled to be paid off or to have someone else assume the loan if your mother were to die, before any distribution of the home to heirs could be made.
This response is not intended to create an attorney/client relationship between any individuals, and is not intended as specific legal advice.
You do not understand what a reverse mortgage is and how it operates. A reverse mortgage is like any other mortgage, title to the property is not transferred twith the mortgage but a lien against the title is created. The mortgage lien will be removed by paying the balance owed on the mortgage lien. Title remains in your mother's name. You need to open an estate and have title transferred to the beneficiaries of the estate. Alternatively, the personal representative may sell the property and then distribute the proceeds to the beneficiaries. The mortgage company does not own the property, is entitled to no more than the balance owed on the loan and must foreclose the mortgage lien if it is to obtain title.
Reverse mortgage lenders can be very difficult to deal with in these situations. The house is not owned by the lender unless a foreclosure has been completed, but the lender has a lien and all of the rights of lienor. If there is a will and the will distributes the house either outright or as part of the residuary ( the clause that says all of my property should go to Daughter A and Son B in equal shares or something like that), than the interest in the house will pass under the terms of will. But, the beneficiaries need to open a probate and take action to pay off the lien, either by using their own funds or by selling the house, in a timely manner. Delay in this matter hurts the beneficiaries. If there is as much as 50% equity in the property, it is likely worth pursuing.
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