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If a spouse dies and has a loan out with the bank is the surviving partner responsible for the debt?
Wiki User
∙ 8y ago
Only if the couple reside in a community property state and that is where the financial transaction took place.
Wiki User
∙ 8y ago
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In California is the surviving spouse responsible for deceased husbands auto loan?
The estate is responsible for the loan. If the spouse wants to keep the car, they may have to assume the loan, if the bank allows them to. Otherwise the vehicle may have to be sold.
Is a surviving spouse responsible for the deceased spouses loan in Georgia?
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Funds are transferred to the surviving spouse
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Are you responsible for a spouse's debt before marriage?
No. However, if a creditor sues the debtor and wins a judgment, in most cases the judgment can be executed against joint marital property, such as bank accounts. Therefore, a new spouse can be affected by the premarital debts of their partner.
What to do when you are New Jersey Surviving spouse and there is a joint bank account?
If you are the surviving spouse, you are considered what is called a "Class A" beneficiary, meaning there is no inheritance tax on the property you inherit or take by right of survivorship. This means that the bank does not have to hold on to half the date of death balance until all inheritance taxes are paid. To get that account released you need to get a certified copy of the death certificate and go to the bank. The bank will have copies of NJ Inheritance Tax Form L-8 for you to sign. This is an affidavit that states, among other things, that you are the surviving spouse, a Class A beneficiary and the surviving party to the account. The bank will release the money to you or create a new account with just your name on it as you prefer.
What is the responsibilty of a surviving spouse regarding repayment of bank loan taken out by deceased spouse without her knowledge?
You should talk to a lawyer because laws are different, but in general the spouse shares liability for the loan.
Can a new spouse bank account be held responsible for child support in colorado?
Stepparents are not responsible for their stepchildren. Spouses are not responsible for their spouse's child(ren). However, to collect unpaid support, the State may place liens on real and personal property, including bank accounts, owned by the obligor, even though the spouse is a joint owner.
If your ill mum dies are you responsible for her debt?
if she has a spouse than no but if she dose not the bank will take care of it
Do I have to pay my deceased spouse's bank loans in New York State?
The estate is required to liquidate such debts. In most cases the surviving spouse will be deemed to have benefited from the loans and be required to pay them back.
Can your spouse be held accountable for your back child support?
Stepparents are not responsible for their stepchildren. Your spouse is not responsible for your child(ren). However, the State may place liens on real and personal property, including bank accounts, even though your spouse is a joint owner.
