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After a loved one’s death, you, as the estate executor, will need to make decisions that align with New Mexico probate law (or the probate law in your loved one’s state). While you may assume you can continue living in your loved one’s house while navigating probate, this may not always be true.
Understand how the decedent’s will and your state’s probate laws affect the answer to: “Can you live in a house during probate?”
Can You Reside in a Deceased Relative’s House During Probate?
Perhaps you currently live in the house your deceased relative owned, or you think living in it during the probate process would make things easier. Whatever the case, you shouldn’t assume you can reside in the house while going through the probate process. You must ensure that doing so aligns with your loved one’s wishes for the estate.
Review the decedent’s will and other estate planning documents to determine their intentions for the property. They may have:
- Left the house to you (or another beneficiary)
- Owed a reverse mortgage on the property, requiring the sale of the house after their death
- Not specified what to do with the house, in which case it would be subject to intestate succession and likely left to successors
- Previously charged rent to tenants living in the house, meaning you might not be able to live there for free
- Specified occupancy rights in their will, permitting specific people to live in the house for a designated time after their death
Alternatively, if the decedent shared ownership of the house with their spouse, the spouse still retains ownership and has the final say on whether you can live there.
Even if you are permitted to live in the house at least temporarily, you may be subject to certain restrictions. For example, you may be responsible for maintaining the property and paying utilities. You also should not make significant renovations to the property without the approval of any other heirs.
Understanding the decedent’s wishes can be challenging. You may want to consult a probate attorney to help determine the right course of action.
Instances When You Cannot Live in a House During Probate
Can you live in a house during probate? In many cases, you can continue residing in the house until you have closed the estate and ownership of the property has transferred to the rightful heir. But a few instances may prevent you from lawfully residing there long-term:
- The heir who will take legal ownership of the house does not permit you to live there.
- The bank is foreclosing on the house to pay off a reverse mortgage or a significant default on a traditional mortgage.
- The will states that you must sell the house and distribute proceeds among the heirs.
- You need to sell the house to pay the decedent’s debts.
- The decedent’s spouse, a co-owner of the house, prevents you from living there.
Other Options for Dealing With an Inherited House
When settling an estate, you need to act upon the decedent’s wishes and seek court approval before taking any actions regarding the estate. But if the decedent left you their house, you may have some flexibility in what to do with it.
After taking ownership of the house, you (along with any other heirs) could:
- Live in it
- Allow a non-heir to live in it
- Sell it and divide the proceeds
- Rent it out and divide the rental income
- Continue paying the mortgage and utilities while taking time to determine what to do
Whatever actions you take, it’s usually easier to wait until after probate to make changes to the house. This way, you won’t risk disrupting probate or need to seek court approval before acting.
How Probate Funding Can Assist While Navigating Probate
Asking “Can you live in a house during probate?” may raise other questions, such as “How will you afford to do so?”
If you decide to live in the house during probate, you’ll likely need to make mortgage payments and pay utility bills as part of maintaining the property. But you might not have the funds to do so while waiting to receive an inheritance.
Alternatively, maybe the decedent’s heirs have kicked you out of the house, and you’re unsure where to turn now. You know you have an inheritance check coming eventually, but the probate process may take months to finalize.
Seeking probate funding can help you relieve these and other financial burdens. You may qualify for a non-recourse advance on your inheritance, allowing you to access a portion of the assets now. Should your inheritance fall through, you won’t need to repay the advance, as the funding company assumes this risk.
Seek Financial Assistance Through Rockpoint Probate Funding
Knowing how to navigate inheriting a parent’s house is just one of many challenges and heir responsibilities you may encounter during probate. Can you live in a house during probate? Maybe, depending on the decedent’s estate plan. But doing so could also open you up to a greater financial burden or spark other difficulties.
If you need help making ends meet while waiting for an inheritance check or the transfer of the decedent’s house into your name, Rockpoint Probate Funding can help. We offer fast, non-recourse inheritance advances with an easy application process. Our services prioritize transparency and privacy, and we provide financial support nationwide.
Contact us today at (888) 263-8588 to request a free evaluation or start the application.
