re: What happens to homes when occupant passes?

quote:

---

Why would you want to do that?

---

Could be a multitude of reasons but I can tell you why I did it. When my uncle died everything he had went to my father who didnt want any of it so he passed so it fell to me. My uncle owed quite a few people money took out lines of credit in my deceased grandmothers name, made business deals with people that were looking to collect and they came to me and my brother upon his death.

Other than his home in EBR he really didnt have any assets BUT I was the sole beneficiary of a life insurance policy which not many people knew about.

I figured it was easiest and simplest thing to do to walk away from the home and all it's contents (his vehicles belonged to a business he had partners in), take the life insurance money, split it with my brother and save ourselves the headache of all people he screwed over coming to us to make it right.

With the house in BR and me in Mandeville, I had zero interest in going through his entire house, having an estate sale, overseeing renovations, selling it, dealing with lawn-care utilities, etc. then sell the house to hopefully, MAYBE, clear $50k which I would really just feel obligated to pay back the friends of his (most of which I knew) that he "borrowed" money from. I got more than that from the life insurance policy and $50k with no effort sounded alot better than MAYBE $100k with a bunch of effort and headache. Every time we turned over a rock, we found another snake and as soon as we acted upn his estate we were very afraid of what we might find.

Depending on the value of the home, the location, the work involved, other factors, I could see quite a few other scenerios where it just wouldn't be worth it.