Legal Question in Wills and Trusts in Massachusetts
Why does the estate of a dead person have to finish paying off the mortgage. Isn't it contract law that would mean if the person dies, the contract ends?
Asked on 5/20/10, 10:51 am
2 Answers from Attorneys
The death does not terminate the Lender's right to security or its right to collect monies due from the estate of the deceased.
Mortgages and other contract obligations have a right to recover from a deceased's estate any monies properly due them.
Answered on 5/25/10, 11:39 am
Christopher Vaughn-Martel
Charles River Law Partners, LLC
Again, I agree with Attorney Roth. The deceased person's creditors have the right to go after the estate, and any assets and property owned by the estate. This goes for credit cards of the deceased as well as secured creditors.
Answered on 5/25/10, 11:53 am
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