Am I responsible for my father’s mortgage loan when he passes away?

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Am I responsible for my father’s mortgage loan when he passes away?

My father has a mortgage loan for a mobile home that is sitting on leased

property. As I am the executor of the will, am I responsible for the loan on the

mobile home or for the leased property that the home sits on?

Asked on February 21, 2018 under Real Estate Law, Washington

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You are NOT personally liable: you do not need to pay a single cent from your own funds.
You are responsible using *estate* funds (the money left behind by your father, if any) to pay any of his debts (and his final expenses, such as funeral expenses). You only have to do this if the creditors (people he owes money to, like the bank) put in claims or seek payment, but if they do, you have to try to pay them--again, at least up to the limits of the estate funds or money; once the money your father leaves behind is used up, it's done, and you do NOT have to use your own funds.
If the mortgage on the mobile home is not paid, the lender can foreclose and take it. If you want the mobile home and there are not enough estate funds to pay off the mortgage, you might choose to use your money to pay off the mortgage so you can keep the home--but that would be your voluntary choice.
 


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