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Is an adult child of a deceased parent responsible for foreclosure debts?
Wiki User
∙ 9y ago
Not unless they were listed on the deed of the property that was foreclosed. The estate is responsible for settling the debts.
Wiki User
∙ 9y ago
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Would a parent be responsible for credit card debt of their deceased adult child?
Generally no, unless they were a co-signer on the account.
Is an adult child responsible for a parent's debt when there was no will and no estate?
There is an estate! If you haven't opened one, you should. The estate is responsible for the debts. Consult an attorney for the area that you live in for specifics.
Who is responsible for a mortgage payment when both parents are deceased Are we the adult children responsible for making those payments or can we foreclose?
WoW if the payment isn't made then guess who will come and take the house We do not want to keep the house, nor live in it. We are paying the mortgage payments and trying to sell the house, however in this market, it's not likely. At this point we just want to get rid of it. Trying to find out if our credit would be ruined or if we would be held financially responsible if the house foreclosed. ============================================================= These issues issues are the responsibility of the executor(s) of the estates of the deceased persons. If the executor(s) has/have not retained a lawyer, that is the first step in the process. Foreclosure is an action taken by the lender when payments are not made. The lender launches a legal proceeding to take over ownership of the property. The asset (the property) could be lost if nothing is done to prevent foreclosure. ___________________________________ I know what a foreclosure is...I am wondering if me and my sister would be held financially responsible for any outstanding moneys/debts on the house when it forecloses. I also am wondering if our credit would take a hit if we decided to do a short sale or foreclosure?
Are parents responsible for outstanding student loan of deceased adult child?
yes due to the fact that they are your parents but sometimes depending if child has life insur. they sometimes do not have to pay.
Can you have a credit card at age 13?
A minor cannot enter into a legal contract so cannot have their own credit card account. The only way that a 13 year old can get a card is as an additional cardholder attached to his or her parent's or other adults account. Since the adult is responsible for payment they can attach a minor to the account.
Would a parent be responsible for their deceased adult childs debt in NY state?
NO
Is a surviving parent responsible for deceased adult child's debt?
ONLY if the Parent Co-Signed for the Debt. Otherwise NO.
Is a surviving parent responsible for deceased adult child's debt in CA?
In California the estate will be responsible for the debts of the deceased. Only after they are resolved can the estate be closed and any remainder distributed.
Are adult children responsible for credit card debt of a deceased parent who had no estate and who lived in the state of Pennsylvania?
No.
Would a parent be responsible for credit card debt of their deceased adult child?
Generally no, unless they were a co-signer on the account.
Are adult children responsible to take over the house of a deceased parent?
Normally there is a will, stating who will inherit the house. Whoever inherits the house will be responsible for it. If there is no will, the courts will decide.
Is a surviving parent responsible for paying any bills for a deceased child in the state of Pennsylvania?
If the child is a minor, yes, they are. If the child is an adult, no, they are not.
Are adult children responsible for their deceased parent's unpaid nursing home bills?
No. Not unless they agreed in writing to be responsible for those bills. A parent's estate is responsible for paying their debts whether those debts are for a nursing home, credit cards or utility bills. Their property cannot be distributed until the debts are paid. If there are not enough assets in the estate the creditors are out of luck. The exception is mortgages. If the mortgage isn't paid the bank will take possession of the property by foreclosure.
Are the parents of a deceased adult child with no estate responsible for paying unpaid debt?
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
What are adult children responsible for paying from a deceased parent with no Will or estate but multiple medical bills?
Probably not. The estate may be used to pay bills but the children should have no personal liabilities.
Are adult children responsible for taxes owed to the federal govt or state by a deceased parent who had no estate?
The debts of the deceased are the responsibility of the estate and that would include taxes. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
Are adult children responsible for paying foreclosure debts of deceased parents?
In most cases, adult children are not personally responsible for paying the foreclosure debts of their deceased parents. Debts of the deceased are typically settled using the assets within their estate before any inheritance is distributed to beneficiaries. However, it is advisable to consult with a legal professional to understand the specific obligations in your jurisdiction.
