Q: My parents died left the house to us three kids. They had a lot of debt at the end. does house have to go. I
I've been living in the house with them for ten years and taking care of them and the house as well as paying for the car and most the utilities. The house was left to all three of us kids but there is a lot of debt from creditors that was left behind. I don't want to move out of the house it's been our family home for 30 years. What's the options
A: Keeping the house will depend on what money is available to pay off any creditors of your parents. If there isn't enough money to pay off the creditors, then the house will have to be sold in order to pay the creditors. If you want the house to yourself, you may have to buy out your sibling's share. You'll have to initiate a probate petition to find out what debts that your parents left behind and then distribute the assets to their heirs.
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