The estate of the person who dies is responsible for paying off the debt.
Can a son make you sell the house after his father dies and the mother is still alive?
Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.Yes. If the mortgagee dies the debt is owed to their estate.
Yes, that is the whole point of co-signing. Someone has to cover the debt. If one person dies, defaults or goes bankrupt then the co-signer is responsible. In death the estate is still responsible for the debt. If there is nothing left then the co-signer has to cover it.
you still call him DAD
They still owe the money to the estate. The executor may offset their inheritance by that amount.
If your father dies, any debts he had are passed along with his assets. If he still owed money on his car, his heirs get the car and the loan balance. There are exceptions, like if insurance provides for payment of an outstanding debt on a loan in the event of death, but these are exceptions to an almost universal idea that all things of value in an estate as well as all outstanding notes and such are handed down as a package.Think of it this way. If you loaned someone money for a car and that person passed on, you'd still be owed the money or have a "stake" in the car. Any who inherit the "goods" of the deceased will also take on any outstanding debt. You loaned the money for the car. If the person who borrowed the money dies, you still have an outstanding debt with the heirs of the departed. You'd expect to be paid, and law provides for this.
Social security
The spouse is not responsible and should not have this on her credit. But the estate of the deceased will still be responsible for the debt.
nobody
until the company writes the debt off or the person owiing the debt dies
When someone dies owing the IRS, their outstanding tax debt becomes part of their estate. The executor or personal representative of the estate is responsible for resolving the debt, which may involve using assets from the estate to pay off the taxes owed. If the debt exceeds the value of the estate, the IRS may be willing to negotiate a settlement or payment plan with the estate's representative.