Legal Question in Wills and Trusts in Florida

Insolvent Estate and Lender filing Foreclosure against the heirs.

I am an heir to a family member with an insolvent estate. The estate went through probate. The family member was the sole mortagee. The mortgage company has filed a foreclosure notice against the heirs. The amount of the mortgage is more than the value of the home. The lender is also seeking damages for the amount of the ''short'' when the home is sold. Can the heirs be held liable for a family member's debt? If not, why would the lender pursue such action as there were costs incurred with service processing?


Asked on 2/21/09, 6:51 pm

2 Answers from Attorneys
David Leon David L. Leon, P.C.

Re: Insolvent Estate and Lender filing Foreclosure against the heirs.

No, beneficiaries are generally not liable for the debts of the deceased, except under specific circumstances. Did one or more of you co-sign or guaranty the note? Is anyone living in the house now? Who is the executor? You might see about having the executor prepare a deed in lieu of foreclosure in exchange for full releases.

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Answered on 2/22/09, 5:46 pm
David Slater David P. Slater, Esq.

Re: Insolvent Estate and Lender filing Foreclosure against the heirs.

1. No

2/ ?

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Answered on 2/21/09, 8:01 pm


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