Divorced Parent dies, no will, no accets?

[Gerald Fall]

Jurisdiction

Ohio

So my mother passed away with no will, she owned her condo but the hoa has put liens on the property for unpaid hoa fees. She owed back property taxes, student loan. Plus the property needs significant repairs. Basically no equity in the property and she had no other accets other than a car worth $500. Many are telling me to just walk away, do nothing. I dont want to spend money on an attorney when theres nothing to be gained but I also dont want to leave my mothers estate unfinished.

 

[PayrollHRGuy]

I don't see a question but I agree with the many that have advised you.

 

[Gerald Fall]

So my mother passed away with no will, she owned her condo but the hoa has put liens on the property for unpaid hoa fees. She owed back property taxes, student loan. Plus the property needs significant repairs. Basically no equity in the property and she had no other accets other than a car worth $500. Many are telling me to just walk away, do nothing. I dont want to spend money on an attorney when theres nothing to be gained but I also dont want to leave my mothers estate unfinished.

I guess my question is that what I should do, walk away. Wondering from someone that had a similar cituation? I did call probate and told I'd need to create an estate, how do you do this without an attorney?

 

[army judge]

I guess my question is that what I should do, walk away. Wondering from someone that had a similar cituation? I did call probate and told I'd need to create an estate, how do you do this without an attorney?

Condolences upon the passing of your mother.

Regrettably, your mother accumulated more in debts than she did in assets.

You have no legal duty to pay off mother's debts in an attempt to acquire title to her underwater condo.

You can get yourself involved, if that is your choice.

You can even spend, for illustrative purposes $15,000 to settle her unpaid taxes and HOA fees.

After you've dropped $15,000 would your finances be markedly improved?

On the other hand, you can keep that $15,000 in a high yield savings account https://www.cnbc.com/select/best-high-yield-savings-accounts/ earning 5% annually and you'll have doubled your money in 4 years, by depositing the $15,000 and adding $200 each month for the next 48 months.

 

[army judge]

I did call probate and told I'd need to create an estate, how do you do this without an attorney?

Read on mate, you'll soon know how to open probate, if that trips your fancy.

Law Facts: Probate | Ohio State Bar Association


Ohio Probate: A Step by Step Guide


8 Things To Know About Filing Probate In Ohio

 

[Gerald Fall]

Condolences upon the passing of your mother.

Regrettably, your mother accumulated more in debts than she did in assets.

You have no legal duty to pay off mother's debts in an attempt to acquire title to her underwater condo.

You can get yourself involved, if that is your choice.

You can even spend, for illustrative purposes $15,000 to settle her unpaid taxes and HOA fees.

After you've dropped $15,000 would your finances be markedly improved?

On the other hand, you can keep that $15,000 in a high yield savings account https://www.cnbc.com/select/best-high-yield-savings-accounts/ earning 5% annually and you'll have doubled your money in 4 years, by depositing the $15,000 and adding $200 each month for the next 48 months.

Nope, I'd be out 15k, I just hate the idea of walking away, my sibling and I took some thing out, pictures and few minor things, nothing of value, I even told her a few weeks before she passed if she did have anything of value to sell it and live life a little. So if I do just walk away, do nothing what will happen? Her condo is still filled with junk and garbage, I'm not even responsible to clean it up? Since the hoa has liens on it should I give them a courtesy call?

 

[zddoodah]

Not spending money on an insolvent estate and not leaving your mother's estate "unfinished" are incompatible goals. Nothing obligates you to do anything with your mother's estate. The choice is yours to make.

Note that, in theory, if you take assets to the detriment of her creditors, you could be held liable to the extent of the assets. However, no one's going to care about pictures and things that have no value to anyone other than family members.