How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask legalgems Your Own Question
legalgems
legalgems, Arbitrator
Category: Real Estate Law
Satisfied Customers: 7441
Experience:  Just Answer consultant at Self employed
63726236
Type Your Real Estate Law Question Here...
legalgems is online now
A new question is answered every 9 seconds

My dad left a will granting me s house and car. The house

Customer Question

My dad left a will granting me his house and car. The house has 2 Leins total 236 thousand dollars. If I sold the house would I be responsible for paying the loans off from the profits
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  legalgems replied 4 months ago.

A lien on a house goes with the property- the house provides security for the liens.

As such, when escrow closes, the liens will be paid off, and any remaining proceeds will then be distributed to the heir that inherited the house.

Sometimes a will may provide that debt is to be paid off by a certain fund set aside for that specific purpose- so one should review the will and verify that is not the case; if that is not the case then the house itself serves as collateral for the liens.

Further questions? Please post here to continue the chat.

Satisfied? Kindly rate positively so I receive credit for assisting you.

(no additional charges are incurred).

Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.

Expert:  legalgems replied 4 months ago.

checking in on the above;

thanks for using Just Answer!

Related Real Estate Law Questions