Posted on: 29th May, 2010 09:54 am
My mother is terminally ill and could die at any time. There is a law office trying to get payment for a car that was voluntarily repossessed in 2005. The loan was in both my father and mothers name. If my sisters and I did a quitclaim deed to sign the deed for the house over to us, would this law office be able to come after my father for the amount owed for the car? If he shows he has no assets?
Also, the mortgage is soley in my mothers name. Once she passes, would my father be responsible for paying the mortgage or would it be wiped out as would doctor bills and credit card bills upon her death?
Also, the mortgage is soley in my mothers name. Once she passes, would my father be responsible for paying the mortgage or would it be wiped out as would doctor bills and credit card bills upon her death?
Welcome raljones,
If your father's name is not mentioned on the property deed, then the lenders will not be able to come after the property. As far as the mortgage is concerned, if your mother passes away your father won't be responsible for it. However, if the dues are not paid on time, then the lender will foreclose the property.
If your father's name is not mentioned on the property deed, then the lenders will not be able to come after the property. As far as the mortgage is concerned, if your mother passes away your father won't be responsible for it. However, if the dues are not paid on time, then the lender will foreclose the property.