Debt getting passed to joint home owner

Colsm

My Father recently passed and it has now been discovered that he had a lot of individual debt (credit cards, Personal loans) he has left no assets, all debts were managed through his own name and sole bank account. My Mother had no knowledge of this and is now concerned that creditors may come after the house that is jointly owned in both their names, is this possible?

DE_612183

If the house was jointly owned - then surely he did have an asset?

Colsm

That was only asset

Grumpelstiltskin

Any idea what he spent the loans and credit on?

Keep_pedalling

Colsm said:

My Father recently passed and it has now been discovered that he had a lot of individual debt (credit cards, Personal loans) he has left no assets, all debts were managed through his own name and sole bank account. My Mother had no knowledge of this and is now concerned that creditors may come after the house that is jointly owned in both their names, is this possible?

It is possible if they owned the house as tenants in common as he has a valuable inheritable asset rather than none. If they held the house as joint tenants then it is highly unlikely unless we are talking about a very large debt. Creditors can sever a tenancy after a joint owner has died but the legal costs involved are very high so it rarely happens.

Colsm

Grumpelstiltskin said:

Any idea what he spent the loans and credit on?

General living and appears he got into a spiral

Keep_pedalling

If the house was owned as joint tenants then his estate is insolvent, in which case you should write to each of his creditors informing them of his death (enclose a copy of his death certificate) and that is insolvent with insufficient funds to meet his funeral costs. Also say that due to insolvency no one is administering the estate.

If he has small amounts of money in sole current or savings accounts they should pay that out on production of a death certificate, although they won’t pay out is they are also creditors as they are allowed to offset that against his debt.

Dd he leave a will? If so does it mention the house?

Colsm

Keep_pedalling said:

If the house was owned as joint tenants then his estate is insolvent, in which case you should write to each of his creditors informing them of his death (enclose a copy of his death certificate) and that is insolvent with insufficient funds to meet his funeral costs. Also say that due to insolvency no one is administering the estate.

If he has small amounts of money in sole current or savings accounts they should pay that out on production of a death certificate, although they won’t pay out is they are also creditors as they are allowed to offset that against his debt.

Dd he leave a will? If so does it mention the house?

No will was left and my mother is covering funeral costs out of her own account

fatbelly

Just tell the creditors there is no money.

Post on debt- free wannabe if any of them get arsey

Keep_pedalling

Colsm said:

Keep_pedalling said:

If the house was owned as joint tenants then his estate is insolvent, in which case you should write to each of his creditors informing them of his death (enclose a copy of his death certificate) and that is insolvent with insufficient funds to meet his funeral costs. Also say that due to insolvency no one is administering the estate.

If he has small amounts of money in sole current or savings accounts they should pay that out on production of a death certificate, although they won’t pay out is they are also creditors as they are allowed to offset that against his debt.

Dd he leave a will? If so does it mention the house?

No will was left and my mother is covering funeral costs out of her own account

It is unlikely that the house will be held a TIC, so write to the creditors as per my previous post. The exception will be if there any debts associated with the house such as council tax or energy bills as they will need to be dealt with.

fatbelly

Council tax, elec,gas and water are likely to be joint