Legal Question in Wills and Trusts in Florida

My aunt owns a condo worth half as much as the remaining mortgage. I am her only beneficiary. Can she will the condo to the bank? Or am I stuck with this large debt when she dies?


Asked on 8/27/10, 10:49 pm

1 Answer from Attorneys
William Gwaltney William W. Gwaltney, Attorneys at Law

A beneficiary is not responsible for the debt of the deceased unless they have guaranteed the debt somehow. If you Aunt dies with no assets other than the condo then the bank will look to foreclose on it or they may allow the Estate to short sell the condo.

If your Aunt dies and there are other assets, then depending on what they are and how they are protected, the bank could foreclose on the condo, sell it and levy those assets for any deficiency.

Your Aunt may want to consult with an estate planning lawyer to fully discuss her options and determine the best course of action for her and you.

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Answered on 9/02/10, 5:53 am


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