The heirs are not personally responsible for the debt, though the spouse may be. The estate has to pay off the debts including taxes. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Presuming the beneficiary is not the decedent or his estate...NO. Passes to the named beneficiary.The rules of decent for the local of the persons death with determine who the heirs are...and there virtually always are some. Heirs are not responsible for the taxes or other debts of the decedent either. His estate will be. Whatever remains after paying the debts go the heirs.
The estate is responsible for he debts of the decedent. If the decedent was the sole owner of any assets at the time of death those assets must be used to pay the debts before any property can be distributed to the heirs. If there are no assets the creditors are out of luck.
As a noun, in the field of law, an ann is a half-year's stipend, over and above what is owing for the incumbency, due to a minister's heirs after his death.
The estate is responsible for the IRS bill. If there is not enough to cover it, the government may not get it.
Probate is the easiest way and the legal way it should go when a Will is left. Probate makes sure that all creditors (banks, charge cards, loans, property taxes and personal taxes, etc.) are paid in full. Whatever is left after the creditors is paid goes to the Heirs in the Will. If there is no money left and debt still owing then the creditors are out of luck and the Heirs are not liable for any monies owing. Marcy
Of course it is. The dealer taking the trade would become responsible for loans and liens on the car once ownership has been transferred. If the remaining money owing on the trade is not paid he could lose the car to the lender.
THE VEHICLE WILL BE SOLD. IT IS USUALLY THE HIGHEST OF THREE BIDS AND THE AMOUNT IS OFTEN BELOW WHAT THE AUTO IS WORTH. THIS AMOUNT IS DEDUCTED FROM THE BALANCE OF YOUR LOAN. THE AMOUNT THAT IS LEFT OWING WILL HAVE TO BE PAID,IF YOU DO NOT PAY,YOUR COSIGNER IS RESPONSIBLE FOR THE BALANCE OWING. GOOD LUCK ROD.
During separation, you're not legally responsible for your spouse's debts. Creditors cannot come to you to ask for repayment, and if they don't pay their credit accounts, it will not affect your credit score.
Since the couple were not married the surviving person is only responsible for joint debts only. The status of the home ownership depends upon how the property is titled and the terms of the mortgage agreement.
No. Because the car was purchased prior to the marriage.
yes u do bacause u are married. you now take over the persons debts as his wife
If the provider is out of network or not contracted with the secondary insurance, they do no have to bill the secondary and the patient is responsible for the balance (if any) owing