Legal Question in Real Estate Law in California
When I die, if my home mortgage still has a balance, will my adult children be responsible for the balance or can they sell the house and split the equity if there is any>
Asked on 7/10/19, 4:06 pm
1 Answer from Attorneys
They will have the option of assuming the mortgage, or selling the property in the course of settling your estate and dividing the proceeds net of the mortgage pay-off. If they assume the mortgage, they can also sell the property later and pay it off and divide the remaining proceeds.
Answered on 7/11/19, 4:54 pm
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