0
What else can I help you with?
You are being sued for s unsecured loan of 17000 dollars will chapter 13 bankruptcy stop creditors from taking your rental property?
If you file. It will put a stay on your creditors and they will have to halt there collections. You need to contact a bankruptcy attorney to confirm.
What are creditors holding secured claims?
If you signed a Security Agreement, then your creditor has a secured claim on the collateral specified in the agreement.
How is the deceaseds property distributed in case a person dies without a will?
When a person dies without a will, their property is typically distributed according to the laws of intestacy in the state or country where they lived. These laws determine how assets are divided among surviving family members, such as spouses, children, parents, or siblings. The specific distribution will depend on the individual's family situation at the time of their death.
What is done during initital securing of unsecured property?
Verification of the property is what is usually done during the initial securing of unsecured property.
How can you use the word intestate in a sentence?
He died intestate so the family divided up his property as it pleased them.
If person dies intestate can their property be left to one child discounting other children?
No, intestate property cannot be given to one heir because when a person dies intestate, or without leaving a will, his property is distributed according to the laws of intestacy in the state where he lived. The distribution can only be made by a court appointed Adminstrator. When there is no will, a decedent's property is owned automatically by all the heirs equally. The Administrator has no authority nor power to redistribute the property except by state laws of intestate distribution.
If a person dies intestate in Pennsylvania and owns property in Virginia which states laws govern?
Generally, the laws of the state where the property is located apply. If a person who lives in New York dies intestate owning real property in Massachusetts then Massachusetts laws of intestacy would govern the distribution of the property.
In Illinois can joint tenants who are also heirs intestate be required to sell the jointly owned property to pay the debts of the deceased?
Generally, jointly held property passes automatically to the surviving joint owner. It does not become a probate asset so it is not exposed to creditors. However, the situation changes if the creditor attached the property prior to the death of the debtor. Creditors can attach jointly held property while the debtor is living but if a creditor fails to attach prior to the death of the debtor then the property passes to the surviving joint tenant and the creditor is out of luck.
How do you initially secure unsecured properties?
You initially secure the unsecured properties by verifying the owner of that particular property.
What does inheritors mean?
To take (property) by law of descent from an intestate owner. b. To receive (property) by will
What are the types of inheritance?
You can inherit property by virtue of a will: testate. You can inherit property under the laws of intestacy if there is no will: intestate.
What happens if you cannot pay your unsecured credit cards?
Unsecured creditors ususually sell accounts to a third party. If the ususual means of collection does not get results (phone calls, letters for payment). a lawsuit may be filed. A judgment can result in wage garnishment, bank account levy, lien against property, liquidation of unexempt property. In some instances a lien against a home can be used to implement a "forced sale" of the property, (this seldom happens). EVERY judgment can be appealed.
