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Does the life estate person or the remainder men in a life estate pay for the mortgage that is on home deed only in person who died name but mtg is in both person who died and his wifes name?
Wiki User
∙ 18y ago
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.
Wiki User
∙ 18y ago
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Is it possible to remove your wifes name of a mortgage?
You would need to pay off that mortgage and refinance in your sole name.
The mortgage is in your wifes name can the IRS take it?
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.
Does husband share his wifes estate with the children?
wife dies, does husband inherit everything or does he share with their children
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Are you liable for your wifes medical bills in colorado?
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.
Will you have to pay wifes credit card bill after death?
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.
Can husband be held liable for wifes debts in state of Arkansas?
In Arkansas the estate will be responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.
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House in wifes name leaves husband who pays for house?
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.
Can you will away your wifes inheritance?
This is vague, so I'll answer what I think you are trying to ask. If you are trying to write your wife out of your will, it depends. Most states have something called "years support" where a surviving spouse is entitled to a minimum amount of inheritance. However, once that minimum amount is met, it is possible to will the remainder of your estate to others, as you please. If you are asking about an inheritance that your wife received from another party, you're going to have to be more specific.
