If a man dies with no Will, should his children continue to pay the mortgage on his home?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If a man dies with no Will, should his children continue to pay the mortgage on his home?

Asked on September 24, 2015 under Estate Planning, Washington

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If there is no surviving spouse as your question implies, the children will stand to inherit the house. However, the lender may foreclose if the loan is not paid. Therefore, the question really is does one or more of the children want the home--which also subsumes the question of is there enough equity in the home that it's worth paying the loan so as to then be able to sell the home and profit by it? If the answer is yes--someone wants the home for personal reasons and/or the home is valuable has substantial equity--the children should contact the lender to discuss payment arrangments.
However, no one can be made to inherit anything--if the children don't want the home, or the loan is so large that it's not worth getting the home, then they and the estate i.e. via the court-appointed administrator can refuse to pay and let the lender get the home. There will be no consequences to them if they disclaimed the inheritance of the home.
IRS debt it becomes a debt of the estate, but not of the heirs. The IRS can try collect from the money and/or assets in the estate, before they are distributed.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption