Legal Question in Intellectual Property in Maryland
My father died 6 months ago. He and my step-mother were in the middle of a divorce, but it wasn't finalized before he died. My step-mother has listed very few assets on the estate inventory. Together they owned 3 properties none of which are listed on the inventory. She did listed the mortgage(s) however. Are my brother and I to pay off her mortgage obligations before we inherit anything from my dad's estate?
1 Answer from Attorneys
I am sorry to hear of your dad's passing. Ordinarily liens against property are paid in the ordinary course by the remaining borrower / property owner. However, the deceased person's creditors may well have a claim against estate assets. Generally speaking debts need to be paid first before assets are distributed. The law specifies the order in which claims are to be paid if there isn't enough money to go around.
The estate's legal obligations and rights depend on how the properties were titled, how the liens were structured, whether any of the creditors have filed claims and perhaps on what the parties had signed in the course of their divorce (such as a separation agreement).
You are strongly encouraged to sit down with legal counsel who can review the details and consult on the specifics of your situation.
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