QUESTION
Is she financially responsible for any missed payments or fees even if she does not want to keep the vehicle/house?
Asked on May 05th, 2017 on Estate Planning - California
More details to this question:
My late fiancé's mother is his next of kin on his death certificate. His car payment and house mortgage have not been paid, and are up for repossession/foreclosure.
2 ANSWERS
Edwin K. Niles
No, she has no personal duty to make payments. Eventually, the lenders will repossess/foreclose. But in today's real estate market, are you (or she) sure that there's no equity in the house?
Answered on Jul 31st, 2017 at 4:37 PM
Anyone can refuse an inheritance. She is not personally liable for any of his debts, but if she takes any assets they come with what ever liens or debts are against them. Maybe the car and/or house are worth less than the money owed on them.
Answered on Jul 30th, 2017 at 12:44 AM