0
If there is no estate of deceased family member who is responsible for debt?
Wiki User
∙ 14y ago
Generally, the estate is responsible for paying the debts of the decedent when the debts are in the sole name of the decedent. If there are no assets then the creditors are out of luck.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What does it mean to hold the note on real estate?
A note on property is just simply being owed money on a property in private financing. If a family member finances a home for you with their own money. You are making payments to that family member, they would hold the note and should be on the deed to the property.
What happens if you take a personal loan out from a family member and they pay the loan off through the banking institution are you still responsible to pay off loan?
The question doesn't make sense. If your family member gave you a loan, what "banking institution" was involved? Why did the person you took a loan out from have to pay off anything?If you took out a loan, yes you're responsible for paying it back.
Can you continue making payments on a car loan that is in the name of a deceased parent?
You should find the sales receipt. It might state on there what will happen. Regardless, payments need to be made and you should tell the loaner that she is deceased. You might want to contact a lawyer to make sure things go the way they should. * If the vehicle was not part of the inheritance the lender should have been contacted by the executor or administrator of the deceased's estate. If the vehicle was part of an inheritance then the beneficiary may contact the lender to arrange refinancing or refuse the "gift" and allow the vehicle to be recovered by the lender. In either case, a family member cannot simply keep the vehicle and continue to make payments without notifying the lender.
Do you have to pay for charges on a credit card that a family member opened in your name?
You have a mess on your hands. You have fraud on your hands. You might have a choice between paying the bills or charging the family member with fraud. First, you should take it up with the family member and then you should make your decision. Do you want to be out the money or do you want the family member to go to jail?
What does an adult only child of an unmarried parent do when that parent dies with over 14000 in charged off debt and an estate worth less than 3500?
Debt(s) are not the responsibility of a surviving child or family member other than a spouse which in this case is not applicable. Whatever amount is in the estate that is not exempt under the state law will be used to pay any outstanding debts according to their priority. Secured creditors are always paid first, unsecured debts such as credit cards are considered low priority and if there are no funds available for payment the debt is considered uncollectible. Be advised that there are those unethical creditors who will attempt to coerce surviving family members into taking responsibility forthe deceased debts, they are NOT legally obligated to do so.
Who is responsible for credit card debt of deceased family member is there is no estate or money?
blah
Who pays the bills of a deceased family member?
Bills are paid from the estate of the deceased.
Are the surviving adult children responsible for paying off student loan debts of their deceased parents?
Tyoically, debts are the responsibility of the estate, not of the family. An exception may be if a family member was the co-maker of the note.
If there is no money in the estate of deceased family member who is responsible for the credit card debt of the deceased?
If there is no cash in the estate, other personal property OR real property, the estate is said to be insolvent and the creditors are out of luck. However, the sole debts of the decedent must be paid from any property, real or personal, before that property can be distributed to the heirs.
If a card holder is deceased but a family member had an additional card and charged over 5000 dollars since the death and is now recently deceased who is responsible for the fraud and debt?
Yes, it IS fraud, and the estate should NOT pay the debt, instead the trustee should turn in the criminal to the credit card company and point out that the estate of the deceased is not responsible for any debt incured after the death date. This would be fraud. I am sorry for your loss, and all of the trouble that you and your family are going through now. God Bless:)
Who is responsible in VA for paying bills such as electric and credit cards of a deceased grandmother if she owned property an house but there is no will only one family member that wants the property?
The executor of the estate is responsible for insuring that the value of the estate is maintained. This is the purpose for setting up an estate. If there are no assets other then the house, it may have to be sold to pay her debts.
Can a credit union take money out of a frozen acct of a deceased person without the permission of a family member for a bank issued credit card in Texas?
The account should be presented to the executor of the estate (not just a family member) before payment. That is, unless the deceased paid the bill before dying--then it goes through.
Is it illegal for one member of family to withhold insurance policy details of deceased mother from siblings?
The information should be available to all family members who are the beneficiaries of the policy or are affected by the probate of the deceased person's estate. If the person withholding the information is the Executor of the estate, that person does not have the right to withhold this knowledge from the beneficiaries of the policy. Notify the probate court of this,
Do deceased people need to file income tax?
A tax return does need to be filed on behalf of someone deceased for the year in which they died. This is usually done by the spouse, a family member, or an accountant or tax attorney handling the person's estate.
What is the significance of a deceased family member visiting a living family member after deatlh?
It's not really a possible scenario.
Can your family member who is executor and beneficiary of estate refuse to pay deceased debts?
The executor cannot refuse to pay properly documented debts. They do not have to pay them personally, the money comes from the estate. If there isn't any money, they show the court the assets and distribution and the estate is closed.
Can a family member of the deceased evict you from the property you've shared with your wife of 15 years in Arkansas?
In Arkansas, the process of eviction typically involves legal proceedings through the court system. A family member of the deceased may have rights to the property, but they would need to follow proper legal procedures to evict you, especially if you have lived there for an extended period of time and have established tenancy rights. It is advisable to seek legal counsel to understand your rights and options in this situation.
