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No will,greedy stepchildren, inheritance confusion

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  • No will,greedy stepchildren, inheritance confusion

    My wife & I planned on retiring in Oklahoma, on Lake Texoma, where we purchased property around 7 years ago. We lived in Dallas country, Texas where we were homesteaded, weekdays in Texas, weekends in Oklahoma. Unfortunetly, I lost my wife to cancer 4 years ago. I started my own business that year as her income covered all our expenses and I had the opportunity. I went from approximately $160000. annual income to less then $40000. I did receive a few small amounts, but not enough to help. As time passed, I fell further and further into dept, abused credit cards, and then finally just gave up, I could no longer maintain the lifestyle I was accustomed to, and wanted. I thought my answer was to sell my home in Texas and use the equity to pay off the Oklahoma house, then just rent a place here in Texas, bottom line, loose two mortages, gain one rent, and have a place to retire when that time comes. My house sold quickly and I was then advised by one of my stepdaughters, that both the kids would be received 25% of the sale, because mom had not left a will. Well this just undermined my whole plan, and the daughters are not giving this back to me. I guess I died when mom died. I am also surprised that they were entitled to the equity as i was the only one paying the mortage for the last four years. Why are they entitled before I pass on?? Why can they reward from my payments since I'm still alive?? Anyway, now I will seek advise before I do anything with the Oklahoma lake property. I do ultimately want the kids to benefit and inherit all I can leave, but not until I die. I don't know if there are legal problems with me sellling my Lake home for $100. more than what is owed, to my lady friend. Then in a few years I would buy it back. This way, if the kids are entitled to my retirment home, (since mom left no will) then if the same formulas are used in Oklahoma, that were used in Texas, they would only receive $25.00. I know this sounds harsh, but I am so insulted by their actions, where all I ented to do was secure the home for our family. I hope someone has some legal advice on what I can or cannot do with my Oklahoma property.

  • #2
    You were taken for a ride by the stepchildren and you may want to sue them in court if it is not too late to do so to get the money back. You should consult an attorney. If your home wiht your wife was owned by both of you jointly as husband and wife, or by tenants by the entirety, the ownership of the home automatically converted to you and the stepkids nothing. If the home was your wife's separate property, then you may only be entitled to half of it with the other sales proceeds divided between her kids based on intestate laws. So not really enough information to be able to answer this.


    • #3
      Tenants by the Entirety?

      My mom is in a similar situation in Dallas but with my step-brothers. My step-father passed away rather quickly without a will. Now my step-brothers are trying to cash in on her house. The house was built in 2005 and the completed loan agreement and sales paperwork stated the property was to be titled as Tenants by the Entirety. I found this information but the attorneys say that Tenants by the Entirety does not apply to Texas. Is this true? If not what do we do next so she can retain full ownership of her home.
      The mortage company owned by the builders of the home did not deed the house as Tenants by the Entirety by mistake even though all the paperwork stated that's how it should have been titled and they are trying to back out slowly. Any advice would be fabulous.
      Last edited by lola11; 01-20-2006, 11:52 AM.