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Before title can be transferred, debts must be resolved. If there is a mortgage, it has to be satisfied by the estate, or the property sold. Any liens would have to be taken care of as well.
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∙ 14y ago
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Are adult beneficiaries responsible for deceased parents debts?
No, you are not responsible for their debt. The only person legally responsible for a debt is the person that signed the contract for the debt. It doesn't matter if your dead parents left you money. Collection agencies cannot legally collect someone else's debt from you - but they will try. See the FDCRA to know your rights in debt collection.
Are you responsible for any debt your daughter has after she left home?
If your daughter has reached the age of majority, no, you are not. If she has not, you can be held responsible for providing for her welfare.
Are you responsible for debt if you are in the will?
No. The debt will get paid first and your inheritance will come out of what is left.
Wife left and left you with debt and refinancing?
Unfortunatly, because you were married, her debt is your debt. You are both responsible. You can try to pay it then sue her for lost income.
Is executor responsible for deceadents debt?
The executor is only responsible for paying the decedent's debt up to the amount of the assets left. An executor sees that the funds available get paid to the right people. The funeral home is one of the first businesses that get paid.
Who is responsible for registering property left in a will?
The executor or personal representative named in the will is responsible for registering property left in a will. They are responsible for transferring the assets from the deceased owner to the intended beneficiaries according to the wishes outlined in the will.
If a credit card holder has a judgment and dies who is responsible?
No one. The person left is not responsible for the debt. The credit cards want people to think that the family owes for the deceased debt, but they don't.
Does the beneficiary of the life insurance policy have to turn over funds to the estate to pay debt?
I am not an expert but have been involved in my dad's estate. If you are a listed beneficiary on the life insurance policy, it is your money. Unless you are the spouse. Debt does not have to be paid by the beneficiaries. My dad's left over $30,000 in debt. He had a $30,000 life insurance policy that had named beneficiaries. We got the insurance policy and did not have to pay for the debt. Check your state's policy. Go to a free law clinic and verify this info. Good Luck!
If you are a co-signer and the other person dies are you still responsible for the debt?
Yes, that is the whole point of co-signing. Someone has to cover the debt. If one person dies, defaults or goes bankrupt then the co-signer is responsible. In death the estate is still responsible for the debt. If there is nothing left then the co-signer has to cover it.
Who is responsible for deceased spouse's debt in Florida?
The estate of the deceased is responsible in Florida. The executor is responsible for listing all assets and debts. The debts are paid and anything left is distributed.
In Pennsylvania is the surviving spouse responsible for the deceased spouse's medical and credit card debt?
No, the spouse is not responsible. However it does come out there assets left behind.
Both of your parents have passed away and left you executor of estate are you responsible for all their debt left behind?
The estates are responsible for the debts. The attorney who is handling the estate will let you know how the debts will be paid.
