Legal Question in Wills and Trusts in New York

Re: Responsibility for a decedent's mortgage

If the decedent was personally liable to pay the mortgage debt, then so is the Estate.

The mortgage will encumber the property received by the beneficiary, but the beneficiary will not be personally liable.

In many mortgage documents, the death of the borrower as well as the transfer of the property causes the balance of the loan to become due.

Re: Responsibility for a decedent's mortgage

Norman is correct unless the Will specifies that the recipient receives the property subject to assuming the Mortgage. If the Will does not specify anything, the Mortgage is an estate debt. The propblem is more confusing, if the Executor has authority to sell the house. Without reading the language of the Will, I cannot provide an exact answer.

Re: Responsibility for a decedent's mortgage

I disagree with my colleagues. The decedent can only pass his own interest. The beneficiary gets the property subjetc to the mortgage.

The terms of the mortgage may (does) include an acceleration clause wherein the whole amount due is payable in full within some number of days (180) after the passing of the mortgagor.

A mortgage 'runs with' the property, not the person.