Legal Question in Credit and Debt Law in California
Repaying loan
My ex-mother-in-law passed away and I have a personal loan with her. Will be be responsible to repay this loan to the next of kin??
Thank you.
1 Answer from Attorneys
Re: Repaying loan
You will now owe the amount due under the loan, and any repayment terms to her estate. The assets of her estate, if probated or held in trust, will be distributed to her heirs and/or designees. Once distributed, you will then make payments to the new person holding the loan. If I were you, I would wait and see what happens with her estate before making any further payments.
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