Q: Hi, my uncle had left me a tractor. The loan was agenst his savings. So the savings payed the loan. Im told now that
I have to pay the loan. He put it in writing that it was to be mine. Am i leaglly resonsible for the loan. Even though his savings payed for it? My cousin says i owe her the money.
A:
Without seeing the documents (the will and the loan documents) it is impossible to say. GENERALLY when there is a lien against a piece of property the person 'inheriting' it needs to pay the loan. SOME wills specify loans should be paid from the estate first and any inheritance is made 'free' of the debt/taxes.
EITHER could be the case. Without seeing the documents it is impossible to say for sure. You need to have a local probate attorney review everything to get a real answer.
--I am licensed to practice in Michigan only. This answer is offered for information only and does not create an attorney/client relationship nor constitute legal advice. Please seek licensed local representation if you have questions!
Brent T. Geers and Tim Akpinar agree with this answer
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