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If you owe someone money and they die do you owe the money to their estate?
Wiki User
∙ 14y ago
yes you do, but maybe the heirs will forgive the loan that was made.
Wiki User
∙ 14y ago
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You owe money if you die is the debt over?
No the debt passes on the the heirs of the estate.
What happens if parents die and owe money to the government but the estate has no money?
The government is not going to get their money. They will have to be satisfied that there are no assets in the estate and that no one else got paid.
If you lent someone a large sum of money and their dad passed away can you put a lien on her father's estate?
You cannot put a lien on the estate of someone unless they owed you money. In this case, the deceased did not owe you any money.
When you owe somebody and they die do you owe the amount in full to the estate or what you signed?
Whatever you owed to the living person, you also owe to the estate should that person die. To do otherwise is fraud, and a severe disrespect for the person that died, assuming they were a personal friend who loaned you the money in the first place.
How do you divide an estate when two of three heirs owe money to the estate?
The value of the estate, which includes the debts owed to it as well as the debts the estate owes, is divided up into three parts. The amount those that owe the estate money receive is off-set against the debt. If there are more debts owed by the estate then it is worth, those owing money will have to pay it to the estate.
Do I still owe a personal debt if my father dies?
You father's death does not release you from your obligation. You now owe the money to the estate.
What do you call someone you owe money?
borrower
When you owe money to someone it is called?
debt
What happens if you die and owe the IRS money?
One of the primary reasons to open an estate is to resolve such issues, including taxes. 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.
If you are the executor of an estate and owe money to a lien holder can they go ofter money in the estate?
No. A personal creditor of yours has no right to attach the estate for which you are the executor. However, if you are also a beneficiary of that estate the creditor can go after your portion of the distribution.
What happens when you die and you have no heirs and you owe money?
Generally, your creditor(s) may petition the probate court to commence a probate proceeding for your estate if you have left any assets. Then, the creditor can file a claim against the estate. If you die with no assets in your name, your creditors are out of luck.
Can you stop someone from leaving the country if they owe you money?
nope lol but if they owe you money it is highly doubtfull they will afort to leave the country.
