Legal Question in Wills and Trusts in Florida

Heir Liability ? High Mortgage Home in Estate

I am 1 of 3 Heirs that were left a heavily mortgaged home as part of an estate. We started foreclosure proceedings w/the mortgage company. Is it possible for the heirs to be financial liable to the mortgage co. for the monetary difference betwn the eventual home sales price and the outstanding mortgage balance at the time of the sale once the home is sold i.e. IF the sales price doesn't cover the mortgage balance).


Asked on 11/24/07, 1:36 pm

1 Answer from Attorneys
Stanley Miller Stanley M. Miller, P.A.

Re: Heir Liability ? High Mortgage Home in Estate

Not unless you did something to assume the loan, which most probably you did not.

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Answered on 11/25/07, 8:20 am


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