House title

wanting_an_easy_life

House title

Crabapple

I think you would need to talk to the mortgage company because it will be up to them whether they will be happy for the mortgage to continue or seek to repossess. They will want proof that you can keep up payments so they will credit check and financially assess you. The mortgage would have to be transferred into your name, or you would need to remortgage with another company.

I would be wary of taking on an asset of an insolvent estate though, even though you say that the debts are not going to be recovered, it's a potential source of funds if someone decides otherwise and you could be forced into the position of taking personal responsibility for those debts in order to keep the roof over your head.

wanting_an_easy_life

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pollypenny

You've just said it's been valued at £200,000 so it can't be worthless.

You need legal advice before committing yourself to anything.

wanting_an_easy_life

House title

madbadrob

Firstly the property now automatically passes to the wife of the deceased and as such the decision as what to do with the property now is up to her. You legally would be required to obtain a mortgage for the property and the widow sell that property to yourself. This is of course assuming the property was owned solely by your ex husband. Even if you were legally able to take over the administration of the estate you would have to know what other debts there were as well. If the new wife doesnt want to deal with the estate then the next in line is your son. You dont say how old he is but I am assuming he is over 18. I personally would seek legal advice. You cannot legally take over a mortgage as well. If your credit status is such that you could get a mortgage I would take the gamble of letting the repossession go ahead and then go to auction and buy it on the cheap or contact the mortgage company and tell them that the estate of the deceased does not have enough money in it to clear the mortgage etc and that they should re-possess but that you would be happy to then buy the mortgage from them for market value. This they would likely take as they would be getting more of the money they are owed back. Insolvent estates are a pain in the rear to deal with and I would in your shoes not take it on even if you could

Rob

wanting_an_easy_life

House title

RAS

Is anyone making payments on the mortgage since the father died?

System

You first need to clarify whose name(s) the house is in and whether it is joint tenants or tenants in common.

If the OP is still joint tenant with the ex then the new wife does not get a look in and it automatically goes to the OP

wanting_an_easy_life

House title

getmore4less

Who has been dealing with the creditors?

They may have intermeddled and be responsible for taking on the administration.

I would keep well clear of that task if the estate is in debt.

You should not use the normal admin process and go through an IAO(Similar to the bankruptcy process)