Q: Upon the death of a homeowner, who becomes responsible for paying the mortgage?
The property is in disrepair and cannot be sold for the amount owed. Also, if the property has been willed to individuals that won't pay the mortgage, will the full amount owed end up being the responsibility of the estate? Thankfully the owner is still alive, but not well. He is trying to decide the best course of action get this property out of his estate.
A: Whomever is still on the mortgage. Otherwise it is up to the estate of the deceased person to liquidate the asset and pay off the loan. The current owner may try a short sale, but if the property is in poor condition it is likely nobody can get financing.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
