by Ged  15/10/2018  86 Page Views
3 Comments  Wills, probate, letters of administration, powers of attorney
My Mother recently died leaving no Will. She had little money, no insurances and owned a manufactured house in a 'village' where she had a site agreement. She has three adult children. One of the children lived with Mother. The house has no Real title and land.

Our idea is to create a Deed of family Arrangement setting out the house is owned by all three children. One of the three children can live in the house for their life time. The person living in the house would be responsible for all costs and any resultant debts of living in the house. They would also be the sole Licensee on the Site Agreement. Upon the death of the person living in the house, the house would be sold, and monies divided as appropriate depending upon ownership rules.(joint tenants / Tenants in common)

Is this Deed of Family Arrangement legally sufficient as long as it is signed by the three children and their signatures duly witnessed.

Do we "have" to get Letters of Administration, as this adds another $900 to an estate that already is insolvent, and other than this 'house', worth less than $75,000, there are no other assets.