West Liberty, OH asked in Real Estate Law and Estate Planning for Maryland

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.

1 Lawyer Answer
Thomas C. Valkenet
Thomas C. Valkenet
Answered
  • Baltimore, MD
  • Licensed in Maryland

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.

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