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What else can I help you with?
Does a gift of equity have to be from a family member?
No, a gift of equity does not have to be from a family member. It can be from anyone willing to gift a portion of the equity in a property for a real estate transaction.
What should I do if I don't have an executor for my will?
If you don't have an executor for your will, you should consider appointing a trusted family member, friend, or a professional executor to handle your estate after you pass away. It's important to choose someone responsible and willing to fulfill this role. You can also seek guidance from a lawyer to help you with this process.
Would you be willing to co-sign a loan for a family member?
Co-signing a loan for a family member means you are agreeing to be responsible for the debt if they cannot pay. It is a big financial risk, so consider carefully before agreeing.
What does it mean to hold the note on real estate?
A note on property is just simply being owed money on a property in private financing. If a family member finances a home for you with their own money. You are making payments to that family member, they would hold the note and should be on the deed to the property.
What is the cheapest way to sell a house to a family member?
The cheapest way to sell a house to a family member is typically through a direct sale without involving a real estate agent or paying for listing fees. This can help save on commission costs and other fees associated with a traditional sale.
Who is responsible for credit card debt of deceased family member is there is no estate or money?
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Who pays the bills of a deceased family member?
Bills are paid from the estate of the deceased.
Are the surviving adult children responsible for paying off student loan debts of their deceased parents?
Tyoically, debts are the responsibility of the estate, not of the family. An exception may be if a family member was the co-maker of the note.
If there is no money in the estate of deceased family member who is responsible for the credit card debt of the deceased?
If there is no cash in the estate, other personal property OR real property, the estate is said to be insolvent and the creditors are out of luck. However, the sole debts of the decedent must be paid from any property, real or personal, before that property can be distributed to the heirs.
If a card holder is deceased but a family member had an additional card and charged over 5000 dollars since the death and is now recently deceased who is responsible for the fraud and debt?
Yes, it IS fraud, and the estate should NOT pay the debt, instead the trustee should turn in the criminal to the credit card company and point out that the estate of the deceased is not responsible for any debt incured after the death date. This would be fraud. I am sorry for your loss, and all of the trouble that you and your family are going through now. God Bless:)
Who is responsible in VA for paying bills such as electric and credit cards of a deceased grandmother if she owned property an house but there is no will only one family member that wants the property?
The executor of the estate is responsible for insuring that the value of the estate is maintained. This is the purpose for setting up an estate. If there are no assets other then the house, it may have to be sold to pay her debts.
Can a credit union take money out of a frozen acct of a deceased person without the permission of a family member for a bank issued credit card in Texas?
The account should be presented to the executor of the estate (not just a family member) before payment. That is, unless the deceased paid the bill before dying--then it goes through.
Can a family member take property from a deceased family member?
No, taking property from a deceased family member without legal authorization is considered theft. The property of a deceased family member typically goes through the probate process to determine rightful heirs and distribute assets according to the deceased person's will or state law. If you believe there are disputes over the inheritance, it's best to seek legal advice.
Is it illegal for one member of family to withhold insurance policy details of deceased mother from siblings?
The information should be available to all family members who are the beneficiaries of the policy or are affected by the probate of the deceased person's estate. If the person withholding the information is the Executor of the estate, that person does not have the right to withhold this knowledge from the beneficiaries of the policy. Notify the probate court of this,
Do deceased people need to file income tax?
A tax return does need to be filed on behalf of someone deceased for the year in which they died. This is usually done by the spouse, a family member, or an accountant or tax attorney handling the person's estate.
What is the significance of a deceased family member visiting a living family member after deatlh?
It's not really a possible scenario.
Do you need a lawyer to become an administrator of a deceased family members estate?
You do not necessarily need a lawyer to become an administrator of a deceased family member's estate, but having one can be beneficial. The process involves navigating probate court, which can be complex and varies by jurisdiction. A lawyer can help ensure that all legal requirements are met, assist with paperwork, and provide guidance on managing the estate's assets and debts. If the estate is straightforward and there are no disputes, you may manage it without legal representation.
