Q: In NC are heirs responsible for secured debt, we did not co sign the loan but have been in contact with the bank.
He had a will (I am sole executor) his house was left to me & has been changed at the tax office. 2018 property taxes were paid by me. Land my brother currently lives on was willed to him. Ma passed in 2015. We are the only heirs. The 3 month estate notice was placed in paper and the bank did not send official notice of this debt but I did make a payment out of the estate acct & have been in contact. Are we still responsible? My brother keeps claiming he wants 2 pieces of the equipment but doesn't want to pay just yet or help me sell them, I'm ready for them to reposess but bank doesnt want to. 3 pieces of equipment are listed (nothing else) the debt totals 55,000.00. I do not have 55,000 and have already paid out of pocket to file the estate & some debts. Brother pd off truck willed to him. Do I need a quit claim deed in my name for the house? Does he? Tax office said the will was the same as deed but I'm not sure. Can the bank come for the house? Can I petition court for write off?
A:
The real estate is not technically part of the estate, but you could get your expenses out of the property - assuming they are significant enough to make it worth doing so and there is enough equity. The debt stays with the property and becomes the responsibility of the new owners to deal with (or allow the property to be foreclosed on). The bank’s failure to respond to the creditor notice does not remove or invalidate their deed of trust. There are several issues that may need to be dealt with so I recommend speaking directly with an attorney. Feel free to give me a call.
Evan Lohr
(919)348-9211
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.
