Your sister's debts are not part of the estate. The estate's responsibility is to pay the mother's debts and distribute the remainder. What your sister does with her share of the inheritance is up to her.
Generally speaking, yes. It gets a little complicated in certain cases, because certain debts have a higher priority than others, but all debts, including the HELOC, must be paid off before the seller receives any money at all from the sale, and except in the case of a bankruptcy, the lenders are entitled to attempt to recover their losses if the house sells for less than the total amount of secured debt.
How A company gets money from shareholders when?
it will go to probate and the courts will have a long list of things for you to do before any money is awarded.
i should be notified before a lawyer gets court order to take money out of bsnk account right? a document in mail or something??
your money gets loaned out to businesses and companies.
In most cases the debts of the deceased are the responsibility of the estate. They have to be paid off before any one else gets money. 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.
The executor has a great deal of leeway in settling all debts. He has to come up with assets to clean up the debts before distribution.
To be clear, before anybody can inherit property from the deceased the following have to be settled in this order:1) Taxes due must be payed2) Debts must be settled3) Whats left gets to be distributed an accordance with the will to the heirs.Note the deceased's Executor is responsible for doing all this (the executor may also be an heir).Also NOTE that unpaid taxes and debts come out of the ESTATE.If the estate runs out of money to do this, potential heirs do not have to pay the deceased's taxes or debts out of their own money. However, they will not inherit anything in these circumstances.
It will depend on the estate. The executor is entitled to their fee by law, and that can take precedence over debtors.
The world gets out of debt by paying their debts
Its a scramble when money is thrown by a bride before she gets in car.
She is looking for the emerald Crystal before her possessed sister gets it.
The house gets sold and the estate gets settled. If there is money in the estate, it will be used to pay off any debts, including remaining mortgages. Once all of the debtors are paid, the remainder is distributed according to the will or the intestate laws. If there isn't enough to pay off the debts, they debtors lose out.
Close relative. Usually the mother, father, sister and if no one the state.
possibly who ever he left his money to. im not really sure though..
The state gets the money.
The money belongs to her estate. The executor of the estate will distribute it according to the will.