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Arrears refers to the state of being behind in payments. That could mean there are arrears in the mortgage payments, real estate taxes, municipal charges or rents.
If you are the purchaser that would be up to your lender whether it thinks you can afford both payments. If you are the seller, a personal loan has nothing to do with your real estate, so the answer is yes.If you are the purchaser that would be up to your lender whether it thinks you can afford both payments. If you are the seller, a personal loan has nothing to do with your real estate, so the answer is yes.If you are the purchaser that would be up to your lender whether it thinks you can afford both payments. If you are the seller, a personal loan has nothing to do with your real estate, so the answer is yes.If you are the purchaser that would be up to your lender whether it thinks you can afford both payments. If you are the seller, a personal loan has nothing to do with your real estate, so the answer is yes.
I can't think of any reason why you would. You can always just make the payments. If the payments are made, the mortgage company probably won't even blink.
This depends on how the house is treated in the will. Generally, if the house is given to a beneficiary specifically or through the residuary clause, or if it goes to an heir by intestate succession, the house becomes the property of the beneficiary as of the date of death even though the beneficiary is not entitled to actual possession yet. In that case, mortgage, property taxes, insurance and utilities are the obligation of the beneficiary or heir and are not true estate expenses. Since the estate account contains estate monies that may be used only for estate expenses and since those are not estate expenses, the estate account may not be used for them. However; if the will states that the house is not to be given to anyone in particular but that it is to be sold by the estate and the proceeds given to the the beneficiary, then the carrying charges of the house are legitimate estate expenses and the estate account may be used. In the world of reality and practicality, the estate account is sometimes used, even though it may technically be wrong. Sometimes, beneficiaries agree to let the estate account pay for carrying charges, subject to the beneficiary reimbursing the estate later on. As far as rent payments go, obviously, the estate account will be used to pay for the rental obligations the decedent has, because this is a legitimate debt of the decedent. But, the estate account cannot pay for someone else to live there. The executor has an obligation to cancel the lease as soon as practicable so that no unnecessary rent payments accrue.
The executor presents a plan to the court showing what debtors will be paid and what amounts they will get. If the court approves, the payments are made and the estate is closed. The rest of the debt will get written off as a loss by the debtors.
curious about real estate
The executor must make the payments from any assets of the deceased Estate until the Estate is settled.
Arrears refers to the state of being behind in payments. That could mean there are arrears in the mortgage payments, real estate taxes, municipal charges or rents.
A life estate does not have an affect on someone's disability. It may certainly affect their ability to collect disability payments.
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
It would become part of the estate.
If there are taxes that need to be filed, there needs to be an estate. That allows all debts to be resolved and closed. The court has to approve all distributions and payments.
If you are the purchaser that would be up to your lender whether it thinks you can afford both payments. If you are the seller, a personal loan has nothing to do with your real estate, so the answer is yes.If you are the purchaser that would be up to your lender whether it thinks you can afford both payments. If you are the seller, a personal loan has nothing to do with your real estate, so the answer is yes.If you are the purchaser that would be up to your lender whether it thinks you can afford both payments. If you are the seller, a personal loan has nothing to do with your real estate, so the answer is yes.If you are the purchaser that would be up to your lender whether it thinks you can afford both payments. If you are the seller, a personal loan has nothing to do with your real estate, so the answer is yes.
You should review this situation with an attorney. You are the mortgagor. There is a mortgagee to whom the money is owed and the name of the mortgagee should be recited in the mortgage document. The heirs should be listed as the mortgagees since they were the legal owners of the real estate. An attorney should review the mortgage and the recipient of your payments to make certain you are paying the correct party.
It will depend on whether there are children or not. In most cases the estate is split between any children of the deceased and the spouse.
Most likely, nothing, as long as the payments continue on time. If the payments stop, the lender with foreclose on the property and the borrower's estate will be impacted. The payments are still due beyond the death of the borrower - they become the responsibility of the borrower's estate. An equally important question is who is now the legal owner of the real estate. If the decedent didn't transfer the property to a survivorship tenancy with another, their estate must be probated in order for title to pass to the heirs at law or under the terms of the will. An estate of real property must be probated in order for title to the property to pass to the heirs legally.
Generally, their award will become part of their estate.