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Does the surviving spouse have to repay a home equity loan if they are not listed as a borrower on the loan?
Wiki User
∙ 13y ago
Yes in community property states and maybe in non-community property states.
If the state is a communal property state and the surviving spouse that is not a borrower had ANY benefit from the loan, that spouse is responsible for repayment (despite not being a borrowing party on the loan).
If the state is a non-communal property state, the estate of the deceased spouse will first be looked to in order to provide the funds to pay off all debts. If there are enough assets to cover the debt, the loan will be paid in full, regardless of the surviving spouse's wishes as the lender's rights come before those that may be beneficiaries to any estate proceeds.
If there are not enough assets to cover the loan, the lender may look to liquidate the asset (the surviving spouse's home) in order to satisfy the debt. If the home is NOT in the surviving spouse's name (either through joint tennancy or named ownership), the surviving spouse may not be able to intervene.
Wiki User
∙ 13y ago
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Will the surviving spouse's credit rating be affected by the repossession of the deceased spouse's car?
AnswerIf the surviving spouse was not a joint borrower on the vehicle loan the repossession affect/appear on their credit report.
Can a surviving spouse negotiate final payment on a home equity loan that they were not a borrower for?
Yes, however, the answer depends on specific situations associated with the partnership/marriage and the state in which they live in. If the state is a communal property state and the surviving spouse that is not a borrower had ANY benefit from the loan, that spouse owes the money as a borrower (despite not being a borrowing party on the loan). In this case, if the surviving spouse is not in a position to pay for the loan, a negotiation would be warranted soon after the (within a month or two of) deceased spouses death. If the state is a non-communal property state, the estate of the deceased spouse will first be looked to in order to provide the funds to pay off all debts. If there are enough assets to cover the debt, the loan will be paid in full, regardless of the surviving spouse's wishes as the lender's rights come before those that may be beneficiaries to any estate proceeds. If there are not enough assets to cover the loan, the lender may look to liquidate the asset (the surviving spouse's home) in order to satisfy the debt. If the home is NOT in the surviving spouse's name (either through joint tennancy or named ownership), the surviving spouse may not be able to intervene.
Do life insurance policies have to be listed in probate?
No if there is a surviving spouse and the children are grown
Spouse dies with a will that gives to her children. surviving spouse wants to stay in the house. Does he have to sell house in order to pay her children half of the equity or does he get a life estate?
In Texas, the suriving spouse has a life estate and does not have to sell.
In New Jersey is the surviving spouse cars solely in the deceased names?
In New Jersey a car is the property of the person listed on the Certificate of Title. If the car is in the surviving spouse's name then it is not in the deceased spouse's estate. If the car was in the name of the deceased spouse, then it is in the decedent's estate, even if they both considered it to be the surviving spouse's car and was used solely by that spouse. The sole determining factor is whose name is on the Certificate of Title.
Can a surviving spouse file a claim when they are not listed as the beneficiary in the will?
Yes. In most states in the United States a spouse cannot be disinherited by a will. The spouse can file a claim under the doctrine of election. By filing such a claim, the surviving spouse is generally awarded an intestate share of the estate. You should consult with an attorney in your jurisdiction who can review your situation and explain your options.
Does a surviving spouse have to pay deceased spouse's back taxes when the surviving spouse never worked but was only a dependent?
No a spouse is not to pay the taxes which are due by her dead spouse.
Who has legal rights over deceased spouse if surviving spouse remarries?
The surviving spouse has legal rights regardless of whether he/she remarries after the death of his/her spouse.
Does a surviving spouse in Texas have to get surviving children to sign before he sells his home?
That depends on how you and your spouse held title to your property and whether the surviving children are the children of both the decedent and the surviving spouse. You should consult with an attorney.
What does it mean by being a surviving spouse where no action for divorce or separation maintenance was pending at the time of decedent's death?
That means you are the surviving spouse and have all the rights of a surviving spouse under federal laws and state laws, especially under the state laws regarding inheritance.That means you are the surviving spouse and have all the rights of a surviving spouse under federal laws and state laws, especially under the state laws regarding inheritance.That means you are the surviving spouse and have all the rights of a surviving spouse under federal laws and state laws, especially under the state laws regarding inheritance.That means you are the surviving spouse and have all the rights of a surviving spouse under federal laws and state laws, especially under the state laws regarding inheritance.
Are you the surviving spouse even if you were not cohabiting with your spouse at the time of death?
IF you were legally married then you are the surviving spouse whether or not you had lived together at the time of his death
If the surviving spouse dies before he invokes his right of election can his executor act on his behalf?
Generally, yes. The right of election to the elective-share amount may be exercised by the surviving spouse or by the personal representative of a deceased surviving spouse or on behalf of a disabled surviving spouse. State laws vary so you should consult with an attorney in your state ASAP.Generally, yes. The right of election to the elective-share amount may be exercised by the surviving spouse or by the personal representative of a deceased surviving spouse or on behalf of a disabled surviving spouse. State laws vary so you should consult with an attorney in your state ASAP.Generally, yes. The right of election to the elective-share amount may be exercised by the surviving spouse or by the personal representative of a deceased surviving spouse or on behalf of a disabled surviving spouse. State laws vary so you should consult with an attorney in your state ASAP.Generally, yes. The right of election to the elective-share amount may be exercised by the surviving spouse or by the personal representative of a deceased surviving spouse or on behalf of a disabled surviving spouse. State laws vary so you should consult with an attorney in your state ASAP.
