QUESTION
If I found out my deceased mother-in-law's has unclaimed property, if my husband claim the property does he ends up paying her debt?
Asked on Apr 12th, 2017 on Foreclosures - Michigan
More details to this question:
I recently found out my deceased mother-in-law's name from the unclaimed property list. It is described as "fund 1 independent foreclosure review payment QSF". I suggested my husband to claim it but he was afraid of him paying money that his mom might owe. Is my husband right?
1 ANSWER
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It depends. When did you mother-in-law pass? How long ago? Was a probate estate opened? If it was some time ago (more than 6 years) then there is no possibility of a creditor taking money. Your husband would not be liable to any creditor for any more than the amount he received from the "unclaimed property", if any. Otherwise, there is no downside for your husband to claim the funds.
Answered on Jul 10th, 2017 at 10:42 AM