Legal Question in Real Estate Law in Indiana

house ownership
My parents ( both deceased ) had a house in their name. My sister and I are both trustees in their estate and my brother lives in the house. He has not made any payments since December of last year. What happens if the bank forecloses on the house ? Are any of the four siblings ( my sisters and brother and I ) responsible ? Can we be held accountable for the house ? Our names are not on the contract , other than being trustees. Can this show up on our credit bureaus and cost us our good credit ratings ? If you could anser it would be greatly appreciated . Thank you

Asked on 4/17/07, 3:27 pm

Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

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Re: house ownership

No guarantees, but this should not show up on anything personal.

Answered on 4/18/07, 12:42 pm

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