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What happens to a mortgage when home owner is deceased and the home is gifted to a child in a trust?
Wiki User
∙ 14y ago
The mortgage must be paid. When a property has been encumbered by a mortgage the property remains subject to the mortgage even if the title is transferred or the original owner dies. You need to pay off the mortgage or make arrangements with the bank to transfer it to your own name. If the mortgage isn't paid the bank will take possession of the property by foreclosure.
Wiki User
∙ 14y ago
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Which of the following that’s because possibly be forgiven under Chapter 7 bankruptcyalimony, a mortgage, a student loan, child support?
A mortgage(Apex)
In Florida what rights does a child have to a deceased father's house if there was no will and his girlfriend is a joint mortgage holder?
You have some rights to inherit your fathers property - if it is his property and in his name - and the girlfriend may have part ownership or should have if she has been paying on it. See a lawyer. * When a person dies without a will the deceased property and asssets are distributed in accordance with the state's probate succession laws. Ownership is real property is determined by how the property is titled the names on the mortgage agreement only indicate who is responsible for the debt. The wording of the property deed determines whether or not the property is subject to probate procedure and partitioning.
If an adult child is a cosigner on the mortgage to her parents' home can she be relieved of the debt responsibility when she marries?
The mortgage would have to be refinanced without the participation of the adult child as cosigner. Debts incurred before marriage do not become the responsibility of a new spouse.
Are parents responsible for outstanding student loan of deceased adult child?
yes due to the fact that they are your parents but sometimes depending if child has life insur. they sometimes do not have to pay.
Would a parent be responsible for credit card debt of their deceased adult child?
Generally no, unless they were a co-signer on the account.
What happens to kids who are gifted but do not have an opportunity to go to a gifted school?
Some children who are gifted can not go to gifted programs for various reasons. If they can not go, they will not get challenged to their full potentials. You can ask the teacher to give the child a more challenging curriculum, transfer schools, or wait until middle school or high school for your child to get accepted into Gifted, Honors, or AP classes.
When was Gifted Child Today created?
Gifted Child Today was created in 1978.
Was Charlemagne a gifted child?
NO! Not at all!
What is the word for a gifted child?
prodigy
What are the good effects of gifted child?
There are many good things about being gifted. A gifted child always thinks differently which could help a lot. Also gifted children have special talents some people can't do. I know one gifted child with autism who has a photograpic memory. Being this way is not always a bad thing I think it just makes you special!
What happens if you are not willing to pay for your funeral?
If a funeral is not able to be paid for, the spouse or child of the deceased may be able to receive a one-time death benefit payment from Social Security if the deceased was on that. The deceased may also be buried by the state or cremated.
What happens with child support when parent being paid dies and child is now in guardianship care?
The guardian gets the child support, but the child can receive social security on behalf of the deceased parent until they are 18.
What do you call a child with a very very high IQ?
A gifted child, or a child prodigy.
Is there any liability to tell a child of a deceased parent?
Is there any liability to tell a child of a deceased parent?
What has the author Carol Fertig written?
Carol Fertig has written: 'Raising a gifted child' -- subject(s): Gifted children, Education, Psychology, Parenting, Child rearing
What are the release dates for Mom's Homeroom - 2009 Is My Child Gifted 4-2?
Mom's Homeroom - 2009 Is My Child Gifted 4-2 was released on: USA: 2012
What happens to mortgage when the only person on the title dies and is survived by a minor child in the state of Florida?
The estate is responsible for clearing the mortgage. They will either pay it off, or more likely, sell the home, pay off the mortgage and put the remainder into trust for the use of the minor.
