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Inherited a property
janlea6
Posts: 8 Forumite
I recently inherited a small flat in my mums will after the sad passing of both my parents(dad passed first then mum shortyly after) it has been being rented and my mother was getting the income as she had debt and my father was in care home.Mum was in sheltered housing. We were only going to sell after my dads passing to help mum pay off her debt. sadly she passed soon after my dad.
Does that mean her debt must be paid by me if I sell the flat? if so do my mums debtors have to wait till that happens. Or am I not responisble now that flat has been passed to me in her will.
I may prefer to just keep renting it till market pick up
anyone know or can advise I would be grateful.
I live near Glasgow and know often laws differ in north & south.
many thanks
Does that mean her debt must be paid by me if I sell the flat? if so do my mums debtors have to wait till that happens. Or am I not responisble now that flat has been passed to me in her will.
I may prefer to just keep renting it till market pick up
anyone know or can advise I would be grateful.
I live near Glasgow and know often laws differ in north & south.
many thanks
0
Comments
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I would have personally thought that all debts need to be paid from the estate, before the assets are distributed..I know we settled any outstanding bills etc for my Dad's house before we sold and distributed any of the assets (house, cash in bank etc). This included the taxman.
who is the executor? What kind of debt was it, it may have been covered by some form of insurance e.g. life insurance?0
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