Legal Question in Wills and Trusts in Louisiana
inheritance responsibilities
the family home is being foreclosed on because of judgements against my parents. are the heirs responsible for any money left owed after the estate is sold or will they accept what they get for the estate?
Asked on 8/02/05, 3:49 pm
1 Answer from Attorneys
James Maguire
James G. Maguire, Attorney At Law
Re: inheritance responsibilities
Assuming that the home is in Louisiana, then the heirs would not be responsible for any deficiencies. In other words, if the house is sold at foreclosure for $50,000 and there is a $60,000 mortgage, then the heirs would NOT be responsible for making up the difference.
Answered on 8/02/05, 4:25 pm
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