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Are surviving children in the state of Florida responsible for their deceased parents debts as a mortgage loan if the house was left in their will?
Wiki User
∙ 13y ago
The house would have been left subject to the loan. Either the estate has to pay off the loan or sell the house. Once that is done, then the assets can be distributed. One of the children could obtain a loan and buy the house from the estate.
Wiki User
∙ 13y ago
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Are surviving children in Pennsylvania responsible for paying the mortgage debt of deceased parents?
The children are not directly responsible in Pennsylvania. The estate is responsible to settle all the debts. Until these have been paid, the children are not entitled to receive anything.
In Tennessee is a surviving spouse responsible for the deceased spouse's debts if there is no estate?
Tennessee is not a community property state, if the surviving spouse was not a joint debtor he or she is not responsible for debt incurred by the decedent. The exeption would be, if there is a home that is encumbered by a mortgage and/or loan the surviving spouse will have to continue the agreement whether he or she was named on the lending contract in order to retain possession of the property.
Who is responsible for deceased fiances debt when owing a house together?
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.
How long can you leave a house in a deceased person's name if there is no mortgage Who is responsible for the property taxes?
how long can you leave house in deceased name
Is surviving spouse responsible for a mortgage that was solely taken out by the deceased spouse?
If the person wishes to keep the residence then he or she will need to reaffirm or assume the loan with the mortgage holder. Real property debts such as homes and vehicles are not treated the same as unsecured debts when it relates to the death of the account/property holder.
How do you get the PMI company to pay off the mortgage after the death of one of the borrowers?
Unless you had mortgage insurance, the surviving borrower is responsible for paying the mortgage. If the mortgage isn't paid the lender will take possession of the property by foreclosure.
Are the surviving adult children responsible for paying off the debts of the deceased - including a mortgage - when there is no estate?
If the decedent owned real estate then there is an estate. The estate is responsible for paying debts before any property can be distributed to the heirs. If the assets are not sufficient to pay the debts then the estate is insolvent. There is a statutory order by which debts must be paid in that case.If the children want to keep the house then they must pay off the mortgage. If not then the bank will take possession of the property by foreclosure. The children are not personally responsible for any debts unless they co-signed or agreed to be responsible.
Who is responsible for my deceased 51-year old son's mortgage on his home?
The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
Who pays the mortgage on deceased parent's home?
Unless there was some sort of mortgage insurance, the estate is responsible for paying the mortgage. If the mortgage isn't paid the lender will take possession by foreclosure. If the heirs want to keep the property they must keep paying the mortgage.
Who pays deceased unpaid mortgage?
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
In fl is a wife responsible foir a deceased husbands mortgage debt?
I'm not trying to be funny, but if you were married (legally) to him at the time of death, yes - who else would be responsible for it?
Are heirs responsible for deceased parents mortgage debt?
No, the executor is responsible to insure the estate is taken care of. Them means either selling the house or paying off the mortgage. One way or another the debts have to be resolved before the estate is closed.
