Estate and home deed question

[jtindisguise]

My father passed away a few years ago. His brother, my uncle, is the executor of the estate. My father left behind a house that I am the heir to. The house has a small line of credit against it, but no mortgage.

My question is: how do I get the home put into my name? Is a quit claim deed sufficient or do I need a warranty deed and do I need the banks approval since there is no mortgage, just a heloc on the property?

[LadyInTheRed]

It's up to the executor to transfer title to you. I don't know the procedure in AZ. In CA, the court issues and order, judgment or decree of distribution (all names for the same thing) that includes a legal description of the home, and the executor either records a certified copy of the order with the county recorder or executes and records a deed transferring the property to the beneficiary. It's probably similar in AZ. I'm assuming there is a probate proceeding in court since you referred to your uncle as an executor. If he is really the trustee of a trust, then he would execute a deed to you without needing a court order. It is not uncommon for it to take up to a year to distribute estate assets, but unless your father's will required that his assets remain in trust, it should not take a few years to distribute the property. Ask your uncle what's going on.

Executors usually use quit claim deeds to transfer property. Your uncle probably does not need to get the bank's permission, but depending on state law, the transfer could accelerate the loan. It wouldn't in CA, but that may also vary by state law.

By the way, a Heloc is treated the same as a mortgage. It may be that a Heloc is really just a type of mortgage, but I'm not sure.