Legal Question in Wills and Trusts in California
Can I take over a deceased parants house and not be liable for any debt they had?
Asked on 12/05/11, 5:55 pm
3 Answers from Attorneys
Anthony Roach
Law Office of Anthony A. Roach
No. Any transfer of a decedent's property to you, without paying the decedent's debt causes the debt to follow you.
Answered on 12/06/11, 8:54 am
Rosemary Meagher-Leonard
Law Office of Rosemary Meagher-Leonard
Mr. Jordan and Mr. Roach are correct. The general rule is that the debt follows the asset. In other words, if your parents had a mortgage, reverse mortgage, in most cases you would have to refinance to pay off those loans and would be responsible for your new loan.
Answered on 12/06/11, 4:57 pm
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