Legal Question in Real Estate Law in Montana
inherited realestate
ihave a mortgage on my home ,but no death insurance to cover the balance of my mortage. If i should die
would my children be responsible to pay off the mortgage. is there away that they would not be obligated. do i have any options?
Asked on 12/20/00, 1:36 pm
1 Answer from Attorneys
Phillip Oliver
Oliver Law Firm, P.C.
Re: inherited realestate
Your estate would be responsible for paying the mortgage. If there are insufficient assets to pay the mortgage, your personal representative would sell the home, payoff the mortgage and distribute the assets to your heirs. I no of no way to get around a mortgage on the property.
Answered on 12/26/00, 10:57 am
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