Legal Question in Wills and Trusts in New York
Can creditors effect a lein against an Estate both owners have died?
My parents have both died. My mother has credit card debt in her name only. Can I, the Estate Administrator, stop paying this debt, or can the Estate be compelled to pay off this debt? The Estate consists of a--name removed--op, nothing else.
The contract of sale states, 'The obligations of the parties who comprimise the Purchaser (my Mother and Father) hereunder shall be the joint and several obligations of each said parties.' Please explain!
Additionally, what does right of survivorship mean?
Thank you for your assistance.
1 Answer from Attorneys
Re: Can creditors effect a lein against an Estate both owners have died?
You do not specify the order of death, i.e., who died first, who survived. This may be important. Joint and several liability means that regardless of who is the primary debtor, both parties may be sued, and the creditor can seek repayment from only one party and that party's estate, which can be either of the parties; primary or secondary. Right of survivorship means that between the 2 people in title, the survivor automatically becomes the owner when one of the parties dies, without a Will or probate. This automatic transfer of ownership does not void any liability of the first to die, and a creditor may go after the asset to recover the debt, even suing the survivor of the survivor's estate. If there are assets available to recover the debt, even if the asset was in 2 names, the creditor can sue.
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