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If a parent dies and leaves house to children must they pay off any debt left?
Wiki User
∙ 15y ago
The debts of the estate must be paid before any distribution of assets is made. If the parent left a will and owned a home, the estate must be probated in order for title to pass to the heirs legally. The creditors must be notified of the death.
Wiki User
∙ 15y ago
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What if a parent leaves the house to four children. One child has debt collectors after them. Can the debt collector's go after that child's share in the house?
Yes. If a debtor inherits an interest in real estate and the creditor finds out, it can place a lien against the debtor's interest in the property.
Will the debt of the parents have to be paid by the children when they die?
The debts of the parents are paid by the parent's estate, not their children.
Can a parent's debt fall on his children after the parent's death if the parent has no estate to speak of?
Not sure if the same applies worldwide but certainly not in the UK
If my husband dies and leaves credit card debt and our childrens parent plus loan debt am I responsible for assuming the debt in PA?
not if you have death insurance on the loan and credit cards
If a dependent parent dies are the children responsible for the tax debt?
If a dependent parent dies then the estate will be responsible for their tax debt. If you are over their estate then you would have to ensure that the government gets their taxes.
When a parent dies are their children responsible for their debt?
Normally the estate has that responsibility. If the children co-signed, they can be held personally responsible.
When a parent dies in California and leaves no money are the children responsible for debt?
The children are not responsible unless they were also signatories on the debt. One of the primary reasons someone should open an estate is to resolve debts. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
When a parent dies are children responsible for a debt they still owe to the parent?
They still owe the money to the estate. The executor may offset their inheritance by that amount.
Are adult children responsible for credit card debt of a deceased parent who had no estate and who lived in the state of Pennsylvania?
No.
Can adult children be responsible for burial or paying debt of a deceased parent if said parent abandoned them as a young child and there has been no contact for more than 20 years?
Children are never responsible for their parents debt, unless they co-signed for the debt. Those bills are the responsibility of the estate. The executor will pay them or inform the debtors of the lack of assets.
If a parent owes credit card debt are the children responsible after the parent is deceased?
If they are not an account holder they are not responsible for the debt. All debts and assets and wills are handled in accordance with the state probate laws in which the deceased lived and/or owned property.
Is child liable for a deceased parent's debt?
As long as the child is not a cosigner on the debt, the child is not responsible for parent's debt. The parent's estate would be responsible for the debt. Technically this could reduce the inheritance the child receives, but it is not the responsibility of the child.
