Look to the instrument that created the interests. If the instrument is silent on this point, in most cases, the decedent's wife is obligated since her name is on the mortgage. Option: If this is not desired, someone else (life estate tenant or remainderman) may refinance and pay off first mortgage.
You would need to pay off that mortgage and refinance in your sole name.
What's more important is who the real estate is deeded to. If you are neither on the mortgage nor the deed, then the IRS would have a tough time taking it. An exception to this is if you live in a community property state, in which case you would automatically own half of the house regardless. Also, I am assuming that your wife is not liable for the taxes.
wife dies, does husband inherit everything or does he share with their children
yes i have 3 wifes
your the fatest person if look this uo
Only if your were a co-applicant. If not, your wife's estate is responsible for paying the debt. If she has no estate, send the credit card company a copy of the death certificate and let them know that there will be no estate set up.
In Colorado, as in all states, the estate is responsible for all the debts of the deceased. That means before the estate can be settled, all medical bills have to be cleared. If there is not enough in the estate to cover them, the husband may not get anything.
In Arkansas the estate will be responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.
The answer is who is on the mortgage or deed of trust contract not who has title to the property. All parties on the mortgage are equally obligated for the mortgage payments irrespective whether or not they are in title to the property. A mortgage or deed of trust is a contract and the parties thereto are bound by the terms of the contract.Another PerspectiveIn addition, The lender will foreclose if the mortgage isn't paid. You have not stated who signed the mortgage and that is important to your question. If the husband is paying the mortgage and is not on the title he is paying for property he doesn't own. If he signed the mortgage then his credit record is at risk if the mortgage isn't paid. This matter will need to be addressed at some point by a court, perhaps divorce court, since the owner has abandoned the premises. You need to consult with an attorney.
blackbeard had 14 wifes
He had 6 wifes :)
You cannot be married to more than one person in the United States.
he had more then 20 wifes
yes he is he is david handlers x wifes husband but he is dead right now.
bob marley had 5 wifes
what is eric dovers wifes name?
a plot by her husbands kinsmen.
William Dawes had two wifes.
Can answer as to NJ specifically, but typically, assets belonging to any person, including a missing beneficiary, escheat to the estate after a period of time, typically seven years.
His wifes name was Elizabeth Schuyler Hamilton.
Wifes is not a plural. The correct plural form of wife is wives.
it is the Indian way to have many wifes