Legal Question in Real Estate Law in Virginia
My deceased parents left a home that was not paid off. This property has liens on it due to unpaid debt. As Administrator of Estate, can I sell this property specifically to pay off their creditors? If I pay off property in order to prevent monthly mortgage payments, can those creditors legally take property from me?
Asked on 11/26/09, 7:40 am
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Yes, the property can be sold to satisfy creditor claims against the estate. If you sell the property, these outstanding liens must first be satisfied out of the sale proceeds before the mortgage note may be paid off.
Answered on 12/01/09, 9:00 am