As an Atlanta probate attorney, I have a lot of experience with navigating issues which arise from a type of property called “heirs property.” Heirs property is “home or land that has been passed from generation to generation in such a way that multiple people own the same piece of property” (Georgia Heirs Property Law Center). This can happen either because a deceased person left the property to multiple people in their will, or because the deceased person died intestate, causing the property to be passed automatically to their heirs-at-law. The multiple owners of heirs property are “tenants in common,” which means they all have a share of rights to the use, possession, interest, rent, etc. of the property (Georgia Bar Journal). Heirs property is an issue which presents a plethora of challenges for the owners of such a property. One common and significant problem inherent with heirs property is “clouded title,” meaning that because of the undocumented nature of the succession of heirs property, it is often not clear on the property’s title who exactly owns the property and what rights they have with the property (Georgia Bar Journal). Therefore, it is typically necessary for all co-tenants of a… [Read More]
Kasey Libby on Channel 2 Action News
Attorney Kasey Libby recently spoke with Ross Cavitt of Channel 2 Action News regarding a multi-million dollar fraud committed against his client in Cobb County by her power of attorney. Click on Post Title above to see video.
Georgia Estate Attorney on Home with Mortgage: Sell It or Scrap it?
As an Atlanta probate lawyer, I’ve dealt with dozens of Georgia estates that include a home with a mortgage on it. How to handle the home and mortgage in Georgia can be difficult to determine, especially if the mortgage loan balance is close to the value of the home. The following is a basic guide to follow, though I urge any person facing this question to contact a Georgia estate attorney before following through on any decisions as each situation has specific facts that may not fit neatly into any of the scenarios below. Also, the guide below only takes into consideration financial considerations of the estate and heirs, not any sentimental attachments that an heir may to a home, which should be taken into consideration when determining how to proceed. If a Georgia estate holds a home in good condition with a mortgage, and the mortgage loan is significantly less than the fair market value (“FMV”) of the home (by at least 10%), it usually is best to continue to make payments on the mortgage and plan on either distributing the home to the heirs or selling the home directly from the estate as quickly as possible to relieve… [Read More]
