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Is the executor of the estate liable for mortgage if foreclosure?
Wiki User
∙ 14y ago
The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.
Wiki User
∙ 14y ago
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Can you as co-executor be sued for the debt of your parent's foreclosed mortgage?
The estate is responsible for the debts of the decedent. The executor is not personally liable. If it is necessary to bring suit the executor's name will be recited as the respondent as the executor of the estate and not as an individual.
Are you still liable for mortgage after foreclosure?
Only if the foreclosure is a court-ordered foreclosure.AnswerThe mortgage is extinguished by a foreclosure proceeding and sale but you may be liable for any deficiency and costs relating to the sale.
After foreclosure on a first mortgage is the next buyer of the property liable for the second mortgage?
In almost every state, the answer is "NO".
If the estate does not pay card balances that are small from an estate and funds are dispersed what can happen?
The executor of the estate may be liable for the debt.
My mother is deceased I am the executor of her estate there was a mortgage on a mobile home and my name is not on the loan so if the mortgage company forecloses am I liable for the loan amount?
If the mobile home and mortgage are in your mother's name alone then you are not personally responsible for paying the loan. However, your mother's estate is responsible for her debts. If the loan isn't paid the bank will foreclose on the property and is entitled to any other assets if there is a deficiency.
Can an executor be held personally liable for the estate tax?
can the executor be liable for estate tax
Can you as co-executor be sued for the debt of your parent's foreclosed mortgage?
The estate is responsible for the debts of the decedent. The executor is not personally liable. If it is necessary to bring suit the executor's name will be recited as the respondent as the executor of the estate and not as an individual.
If a decedents home is left out of their trust is the executor still liable to pay the mortgage?
The home is a part of the estate. It does not matter that it is or is not in a trust. The executor is responsible for taking care of all of the assets of the estate.
Are you still liable for mortgage after foreclosure?
Only if the foreclosure is a court-ordered foreclosure.AnswerThe mortgage is extinguished by a foreclosure proceeding and sale but you may be liable for any deficiency and costs relating to the sale.
Is a executor liable for any bills?
The executor is not personally liable. They are required to use the estate funds to resolve bills.
After foreclosure on a first mortgage is the next buyer of the property liable for the second mortgage?
In almost every state, the answer is "NO".
If the estate does not pay card balances that are small from an estate and funds are dispersed what can happen?
The executor of the estate may be liable for the debt.
Can executor be and be held liable for theft of estate in KY?
Yes, they can be held liable for theft. It is a breach of fiduciary duty and is a crime.
Is the executor responsible for the lawyers fees?
The estate is responsible for attorney's fees. The executor is responsible to pay the debts of the estate before any property can be distributed. If the executor mishandles the funds they will be personally liable.
Can the executor of estate be held liable for taxes owed if estate is solvent?
The executor is responsible for paying any debts, including taxes, owed by the decedent before any assets can be distributed. If the debts are not paid and assets are distributed the executor can be held personally responsible.
Is an executor entitled to a commission on the estate if the home is left to him and the money is to be distributed among 3 siblings?
No. The executor gets no commissions. They get paid a fee set by the state.You need guidance from the attorney who is handling the estate. An executor is personally liable for mishandling estate property or funds.
In Texas if your husband dies and has a car in his name only are you liable for the bill?
The estate is generally liable for all bills and expenses (not you). Hire a probate attorney to help sort this out. The estate will need an executor.
