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| Wills, Trusts, Estates Wills, trusts, estates, gift tax planning, etc. |
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Mar 10th, 2008, 05:34 PM
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#1 |
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unwanted home
My mother has named me executor and sole beneficiary of her estate. The family home has a $118,000 mortgage and would be difficult to sell in it's current condition. She did not leave me adequate insurance to make improvements and there are tenants living there. I live over an hour away and work fuul time and do not feel I can afford this liability. Am I legally responsible should a pipe burst or a fire since the home is not really mine and can I just call the mortgage company and say I am giving it back?
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Mar 14th, 2008, 12:20 PM
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#2 |
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Top Level Member
Last Online:
May 9th, 2008 06:26 PM Join Date: Mar 2007
Posts: 237
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Re: unwanted home
The estate can default yes--the estate will be liable with any assets that do or may exist in the estate.
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