QUESTION
with life estates can you be liable for debts incurred by the persons giving you the property
Asked on Jul 18th, 2013 on Estate Litigation - Colorado
More details to this question:
I was put on a deed with two life estates. Am I liable for any or all credit card debt they have, and medical expenses upon their death
1 ANSWER
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A grantee of a life estate (a/k/a, the life tenant) would not be liable for debts incurred by the grantor (owner of the property) upon their death - their estate would be liable for the debts. I hope this helps.
Answered on Jul 18th, 2013 at 2:02 AM