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    Scooter5074's Avatar
    Scooter5074 Posts: 1, Reputation: 1
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    #1

    May 8, 2012, 06:27 AM
    Home equity after death
    My room mate of 16 years has passed away and left me the condo we lived in. He has an equity on on the property. I have been making the payments until I get the will probated. After that am I still responsible for the equity loan he made or is it excussed?
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    May 8, 2012, 06:57 AM
    It is not excused, as the property and will move through probate the estate will have to pay of debts.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    May 8, 2012, 07:13 AM
    Yes, you will have to pay all the debts on the property and/or assume the debts before the property will be titled over to you.
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