Do I have to continue making payments to the owner's children if he dies? 5 Answers as of August 28, 2011
The property was deeded to me and my wife upon entering the agreement. Both the owner and his wife passed away last month. Do I keep paying his grown children? This is a legal question, not a moral one. I am happy to keep making the payments but was wondering if I was legally bound to do so.Free Case Evaluation by a Local Lawyer!
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The Law Offices of Laurie E. Ohall, P.A. | Laurie E. Ohall
It sounds like the owner and his wife allowed you to have a mortgage on the property. If that is the case, then their children are now the rightful holders of the mortgage. If you do not pay them, they can foreclose on the mortgage. The children may need to probate their parents' estate in order to have the mortgage placed into their names. If you start making the payments directly to them, you should keep records of all the payments made so you have proof of what was paid.
Answer Applies to: Florida
Replied: 8/28/2011
Apple Law Firm PLLC | David Goldman
Generally, you should continue to make payments to his estate, unless you receive notice that the debt has been transferred to a new owner. There are some types of notes which would cancel upon death, but it is unlikely that yours is such. You may want to have a lawyer review your specific not to see what your obligations are.
Answer Applies to: Florida
Replied: 8/26/2011
Ashman Law Office | Glen Edward Ashman
Probably yes, depending on what the agreement says. The answer is in the document, which no one here has seen.
Answer Applies to: Georgia
Replied: 8/26/2011
Minor, Bandonis and Haggerty, P.C. | Brian Haggerty
In a properly documented transaction, you should still be obligated to make payments to the decedent's estate. Check the terms of the note and trust deed (I assume trust deed, since you say you were given a deed to the property).
Answer Applies to: Oregon
Replied: 8/25/2011
The Schreiber Law Firm | Jeffrey D. Schreiber
You have a legal obligation in the form of a note which requires you to pay the obligation. It wasn't conditioned on the original payees being alive. Now that the original payees are deceased, the question is who inherited the rights to payment under that note. That is who you are obligated to pay and that is what you need to find out.
Answer Applies to: California
Replied: 8/25/2011
