Estate Law Questions? Ask an Estate Lawyer.
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I'm sorry to hear about your situation, and my condolences on your loss. Any gifts that are given via a beneficiary designation either on a deed, trust, will, or any inheritance if there's no will, would still be subject to any outstanding debts, especially secured debts (mortgages, home equity loans, and home equity lines of credit). Now the death is an event that could "accelerate" the loan, meaning that they could seek repayment, or they could allow for refinancing of the debt, etc... Often if the debt continues to be paid on time, they won't immediately accelerate the loan but will take a "wait and see" approach to see if the debt is paid off. But they can still collect on that debt that is secured by the property. It does not disappear, and it does take precedence over any beneficiary designation in a will, trust, or via intestate succession.
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