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What if the home is paid off and only 5000 in debt do you have to sell the property for probate?
Wiki User
∙ 11y ago
If there is $5000 in other assets, no. But if the only assets are the home, yes, it will have to be sold to settle the debts.
Wiki User
∙ 8y ago
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In New Jersey is the surviving spouse responsible for credit card debt when the account was solely in the name of the deceased spouse?
No, New Jersey is not a community property state. It does however recognize Tenancy By The Entirety when it pertains to real property. Therefore the family home will pass directly to the surviving spouse and not be subject to probate unless the titling to the property is otherwise worded.
Do heirs of deceased dad's portion of property willed through tenants in common liable to share expenses with surviving spouse for property taxes or other costs related to the home?
Typically, the surviving spouse who is living in the home under a probate homestead must maintain the home and pay interest on any mortgage debt. The heirs are liable for reductions in principal. The surviving spouse is not required to insure the home, but if she does, she is entitled to the proceeds for any claim.
Is probate needed when you inherit a home with a mortgage?
The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.The mortgage has nothing to do with the issue. Probate is required any time the decedent owned real property. Legal title can only pass through probate.
In what situations can a credit card company force you to sell your home in Wisconsin?
If you have made a debt to them and you are not able to satify the debt they request the court take your property to repay the debt.
In Oregon can a surviving spouse be sued for credit card debt that was solely incurred by the deceased spouse if there is no estate only personal belongings and home held as Tenancy By The Entirety?
Oregon is not a community property state, therefore the surviving spouse would only be liable for debts that were jointly incurred during the marriage. Property held as TBE is not subject to probate procedure as it passes directly to the surviving spouse, neither can TBE property be attached for creditor debt when only one spouse is the debtor.
Can the registered owner of a mobile home on private property that is in probate be evicted from the mobile home by administrator?
That sounds pretty harsh and unnecessary. You may need to consult a lawyer.
If your father and stepmother are both deceased and left their home to you and your siblings are you responsible for the mortgage or foreclosure of the property?
Because the property was not owned outright by the deceased persons being willed the property are responsible for the debt attached as well. If they do not want to take the financial responsibility of paying the debt or selling the property they can allow it to be included in the probate procedure and therefore are not responsible for foreclosure or other litigation connected to it. yes, you are responsible otherwise you lose the house you don not get it free just because someone dies. only the person named as heir to the house has to pay. just did this.
If a house is owned by a husband and wife and only one person owes a debt can a collector place a lien on the home?
If the property is owned by the husband and wife as tenants by the entirety a lien for the debt of one will not affect the property.
In Indiana is the surviving spouse responsible for repayment of debt when the deceased spouse was the only account holder and could a lien be placed on the home?
No, Indiana is not a community property state. Indiana is a Tenancy By The Entirety state which means jointly owned marital property passes directly to the surviving spouse and is not subject to probate procedure not creditor attachment when the deceased spouse was the sole debtor.
Can a home inspector place a lien on a house you do not own?
If the persons living on the property are the ones who owe for the inspection but are not the owners, no. The person owed does however, have other options for collecting the debt. No. If you owe the debt the home inspector cannot place a lien on property you don't own.
If a person dies in Florida leaving credit card debt and the home goes to the spouse is half of the home subject to probate and collection by the credit card companies?
no in the state of Florida the homestead is exempt from all creditors
Who is responsible for the debt on your late husband's credit cards if he passed away and he had a couple of credit cards in his name only and you live in New York?
New York is not a community property state, solely owed debts are the responsibility of the spouse who incurred such. Assets belonging to the deceased that are not considered exempt under state probate laws will be used to pay outstanding debts according to the priority. The surviving spouse is entitled by law to specific amounts of property and assets that are not subject to probate distribution or creditor action. NY is a TBE state therefore the family home and all belongings, at least one vehicle, death benefits from life insurance policies, some pensions (or a portion thereof)and any joint marital assets or property do not become a part of probate procedure and cannot be attached or incumbered for creditor debt. THEY WILL GO AFTER HIS ESTATE FOR THE MONEY
