If a parent dies, and has unsettled debt, does that debt transfer to their children?
Answered on: 1/21/11, 11:23 pm by Kyla Kelim
Not unless you are a co-owner on the debt or, after proper consultation, agree to assume the debt. The debt does pass to the estate, and if the parent has any assets that must be probated, the creditor can file a claim against the estate in order to be paid.
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