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The parent's estate is responsible for the loans. If there are no cash assets to pay the loans the lenders will take the property such as real estate or a vehicle.
What else can I help you with?
Are spouses responsible for a deceased husbands bank loan with several co-signers?
Are spouses responsible for a deceased husbands commercial bank loan with several co-signers?
Who is responsible for a deceased person credit card?
Bank's Insurance company
What happens to loans when a bank fails?
When a bank fails, loans are typically transferred to another financial institution or a government agency. Borrowers are still responsible for repaying their loans, but the terms and conditions may change.
Who is responsible for the bank loans after the death of ones husband?
Normally a surviving wife will inherit both the assets and liabilities of her husband, including bank loans. Marriage is an economic partnership.
What happens to loans if a bank collapses?
If a bank collapses, loans are typically transferred to another financial institution or a government agency for collection. Borrowers are still responsible for repaying their loans, but the process may be managed by a different entity.
Your husband and you divorced and then he died are you responsible for his 5 bank loans your name was on the home only?
yes
What rights does a sibling have to ask to see deceased parents bank accounts from the executor?
yes he/she is allowed
What happens to loans when a bank collapses?
When a bank collapses, loans are typically transferred to another financial institution or a government agency for collection. Customers are still responsible for repaying their loans, but the terms and conditions may change depending on the new lender.
Do I have to pay my deceased spouse's bank loans in New York State?
The estate is required to liquidate such debts. In most cases the surviving spouse will be deemed to have benefited from the loans and be required to pay them back.
Your deceased husband co sign for a house note for his son but you did not sign his son is letting it go back to the bank will be responsible?
You can be sued from the bank or creditor
Who is resposible for the loan if the title is in the deceased name only?
The estate is responsible for the loan. If it is not paid the bank will take the property.
Does FLORIDA require the heir of a Florida resident's will to pay off the deceased resident's credit card and bank loans?
Because of the high impact in popularity
