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x dies and wills all of his possessions to y. Is y liable for

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any debts x leaves behind?...
x dies and wills all of his possessions to y. Is y liable for any debts x leaves behind?
Submitted: 7 years ago.Category: Legal
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Answered in 5 minutes by:
7/1/2010
Lawyer: Law Pro, Attorney replied 7 years ago
Law Pro
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No personally. However, it would depend on the type of assets AND those assets of X's are subject to repay his debts potentially.

For example - if X left Y vacation property and it had a mortgage - that although Y gets the vacation property it's still subject to the mortgage.

Another example is - that X has a credit card balance of $2k - if all of X's assets were household goods which Y could just use a truck and relocate to his house - then Y wouldn't really have to pay X's debts.

Another example - X has credit card debt of $2k, also had bank accounts worth $10k - Y would have to go through the courts to get the money BUT also would have to verify all of X's debts were paid before the money would be turned over to Y.




Y is NOT personally liable for any of X's debt obligations - but Y may not be able to get any of X's assets without paying X's debts either.





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Customer reply replied 7 years ago
please explain in detail what you mean when you say that y may n\ot be able to get any of x's assets without paying his debts.
Lawyer: Law Pro, Attorney replied 7 years ago
If X's assets are collateral for a particular debt (ie. mortgage or other loan) then Y would get the asset subject to the debt.

Too, if X has debt - then all of X's assets are subject to paying off that debt and Y can receive the balance of X's estate.

Y can't get ownership of X's assets without paying off X's debts.
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