0
Can life estate property be taken if there is bad credit card debt?
Wiki User
∙ 14y ago
A life tenant does not own any fee interest in the land. They own the right to the use of the land. Therefore, it woudn't be worth anything to a creditor. In addition, there are obligations associated with a life estate that vary from state to state. If the creditor siezed the life estate it would also acquire those obligations. You should consult with an attorney in your jurisdiction if your question involves an actual situation. In that case you need to know how the situation would be handled under your state laws.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Can you pay property taxes with a credit card?
Yes, you can pay your property taxes with a credit card.
If surviving spouse is insolvent is she responsible for credit card debt in Arizona a communty property state if her name was not on credit card and she never used credit card?
The estate is primarily responsible. However, a spouse is normally considered to benefit from such debt and can be held responsible.
Can personel property be taken for credit card debt?
yes whatever you bought with the card can be taken until the balance has been met, or you just keep getting further and further in debt
If a credit card company gets a judgment for bad debt and the card is only in one name can a joint property be taken in Florida?
The property can not be taken if is it a joint property. If you are the only one on the judgement, then your spouse is entitled to protect his/her property. He/she must file an affidavit with the court and the sheriff's department to obtain an exemption of the property.
Can credit card companies force heirs to sell real estate after a death?
If the credit card company has filed a claim against the estate the debt must be paid before any assets can be distributed to the heirs. In any estate the debts must be paid first. The heirs get any assets that are left after the payment of debts. If the estate doesn't pay the bill the creditor can force the sale of the real estate to collect the debt. If the property is the only asset and the heirs want to keep it then the heirs must pay the credit card bill.
Can you pay property taxes with a credit card?
Yes, you can pay your property taxes with a credit card.
If surviving spouse is insolvent is she responsible for credit card debt in Arizona a communty property state if her name was not on credit card and she never used credit card?
The estate is primarily responsible. However, a spouse is normally considered to benefit from such debt and can be held responsible.
Can a credit card company take your car in Texas?
yes in some circumstances. this described as a full and fair equivalent of the property taken from the private owner by the expropriator. the amount of money given should be the equivalent of the property taken by the credit card company.it should be real and substantial.
If a person has no estate at the time of death who would be responsible for his credit card debt?
Currently I am dealing with estate issues and credit card debts. I am not a lawyer but after talking to many professionals, it seems to me that if their is no estate and no joint credit card holders then the card company will have to write it off.....
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.
Can personel property be taken for credit card debt?
yes whatever you bought with the card can be taken until the balance has been met, or you just keep getting further and further in debt
If a credit card company gets a judgment for bad debt and the card is only in one name can a joint property be taken in Florida?
The property can not be taken if is it a joint property. If you are the only one on the judgement, then your spouse is entitled to protect his/her property. He/she must file an affidavit with the court and the sheriff's department to obtain an exemption of the property.
Can credit card companies force heirs to sell real estate after a death?
If the credit card company has filed a claim against the estate the debt must be paid before any assets can be distributed to the heirs. In any estate the debts must be paid first. The heirs get any assets that are left after the payment of debts. If the estate doesn't pay the bill the creditor can force the sale of the real estate to collect the debt. If the property is the only asset and the heirs want to keep it then the heirs must pay the credit card bill.
Who pays the credit card bill if someone dies?
Depends on whether you are in a community property state. If you are, and married, your spouse dies, you/estate is responsible for the bill.
What if card holder dies and spouse is not a signer or a co-owner of the credit card the couple live in a community property state there is no will?
First the estate of the deceased is responsible for all debts, this is usually accomplished during probate and is taken care of by the county or state. Any remaining assets eventually become the property of the spouse and/or children, as the state or county determines.
Does an estate have to sell real property to pay decedent's credit card debt?
If creditors have filed claims against the estate and there is no cash to pay the claims then the real property must be sold to pay the debts. The debts of the decedent must be paid before any property can be distributed to the heirs.
Who is responsible for your credit card debt after your death in Mississippi?
The estate is responsible for the credit card debts of the deceased. That means before the estate can be settled, all debts have to be cleared. If there is not enough in the estate to cover them, they may not get paid.
