Can a bank take money from an estate/Will to pay for a mortgage?

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Can a bank take money from an estate/Will to pay for a mortgage?

Asked on May 18, 2014 under Estate Planning, Oklahoma

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

This is kind of a complicated question and the facts surrounding this request matter.  There is not really enough information to answer it fully so I am going to answer it generally. Generally speaking, the Personal Representative of the estate (Executor, Administrator) can use estate funds to pay an estate debt, which includes the mortgage on property owned by the decedent. Use of the funds for debts other than the debts of the decedent/estate is a breach of fiduciary duty. Good luck.


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