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What happens when a person with a Will dies and their property is subject to a mortgage?
The mortgage must be paid if the heirs wish to keep the real estate. The decedent conveyed an interest to the lender and if the mortgage isn't paid the lender can take possession of the property by foreclosure. You should discuss the situation with the attorney who handles the estate.
If there are no direct descendants of a land owner and taxes have been paid how is the property claimed?
Generally when a person dies intestate with no living relatives their property escheats to the state.
Can a bank take property they have no interest in?
Yes, a bank can take property that they have no interest in. This usually happens when a person has not paid their loan, and now has no right to the property.
What happens when someone dies in your car do you get paid?
no
What happens if person die and home is not paid for?
If a person dies and their home is not paid for, often times the family would be responsible for the bill. In some cases, the loan may actually be forgiven.
What happens to monies owed the internal revenue service when a person dies?
The "Estate" (all the properties owned by the deceased) is obligated to pay those taxes, a Lien can be obtained and it can extend to the executor and their property if they are not paid from the proceeds of the estate.
What happens to a mortgage when one spouse dies?
Generally, the mortgage must be paid or the lender will take possession of the property by foreclosure. You should consult with the attorney who is handling the estate.
If a person dies and another person pays taxes on there property does that person have the full right of that property or land?
Absolutely not. That person would be a volunteer, having paid the taxes on property they don't own. Paying the property taxes does not bestow legal title. You would need to obtain title from the heirs or from the town after the town takes possession of the property by tax title foreclosure.
What happens to the house if the wife who is the main source of income dies and the husband cannot afford the mortgage?
If the mortgage isn't paid the lender will take possession of the property by foreclosure and sell it.
If a person sells a car and allows you to pay on installments but the person you bought the car from dies and there is no will what happens to the balance of the loan for the car?
It is paid to the estate of that person and is used to pay his unpaid debts or given to his heirs.
If you have lifetime rights to a home but the home owner dies what happens?
When a person dies owning real property, or any property, that property passes according to their will or according to the state laws of intestacy if they had no will. You can check the laws in your state at the related question ink.When a person dies owning real property, or any property, that property passes according to their will or according to the state laws of intestacy if they had no will. You can check the laws in your state at the related question ink.When a person dies owning real property, or any property, that property passes according to their will or according to the state laws of intestacy if they had no will. You can check the laws in your state at the related question ink.When a person dies owning real property, or any property, that property passes according to their will or according to the state laws of intestacy if they had no will. You can check the laws in your state at the related question ink.
Are executors entitled to get paid before the parent dies?
The executor does not have any rights or responsibilities before the person dies. Being paid makes no sense and is not a legal right.
