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If a house is the only asset in and estate and the deceased has debt is it mandatory the home be sold?
Wiki User
∙ 13y ago
The estate has a responsibility to pay off the debts. If there are assets to do so, they must be used. The estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Wiki User
∙ 13y ago
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Can a collection lawyer force the sale of a house to pay a credit card debt left by a deceased person?
In most cases the debts of the deceased are the responsibility of the estate. If the house is an asset in the estate, yes, it may have to be sold. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
Can a hospital take your home if your deceased spouse owes bills?
It is entirely possible that they can place a lien on the house. The hospital is entitled to place a claim against the estate and its assets. If the house is an asset, they can attach a lien to it to get their money.
If a person has been granted the administration of estate of the deceased is he or she obligated to pay the deceased debts?
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In Florida can creditors collect from the deceased's estate when the house is held as a trust?
No.
Can an administrator be held responsible for debt of an estate to be paid out of the administrator pocket?
In most cases the debts of the deceased are the responsibility of the estate. If the house is an asset in the estate, yes, it may have to be sold. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
Can an executor take out a mortgage on the estate to defend it if the house is the only asset and the will is being contested?
That would be their responsibility, to defend the estate. They can use the assets of the estate to do that.
Can your siblings just choose to live in the house of a deceased parent if the house is empty and the estate is trying to sell it?
Legally, they cannot live in the house without the consent of the executor of the estate.
this is in Texas, estate includes a house, is the rent concidered part of the estate?
The estate includes the house. The rental income is treated like dividends and interest - something the estate will have to file as income in the taxes, along with the deceased's last paychecks.
Is the Executor responsible for paying credit card debt when the debt is being held by a collection agency there is a will the only asset is a home surviving children?
Yes, the Executor is responsible for paying off all the debts, or as many as possible, of the deceased using the assets of the estate. If the house has to be sold to settle the estate, then it must be sold.
If a collection agency is attempting to collect debt on a deceased person's car loan can they put a lien on the deceased person's house after the estate has been probated?
They would put it on the entire estate of the deceased rather than one item of property so that if there was money that couyld be used to pay rather than have to sell the house.
Does executor have ruling over sale of house in an deceased estate?
The executor has the ability to sell real property in the estate. The probate court will have to approve the sale.
Your grandmother is deceased how do you transfer the house into your name?
You may need to consult with a probate lawyer to file the appropriate paperwork to transfer the property into your name. This process typically involves obtaining a legal document such as a deed or title to officially transfer ownership. It's important to follow the legal requirements in your area to ensure a smooth transfer of the property.
