If I have a mobile home located on my daughter’s property, are my heirs responsible for paying if off or can they let it foreclose in the event of my death?

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If I have a mobile home located on my daughter’s property, are my heirs responsible for paying if off or can they let it foreclose in the event of my death?

Asked on June 15, 2012 under Estate Planning, Pennsylvania

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If your heirs inherit the mobile home and do not disclaim (refuse) the inheritance, then they would become liable for the mortgage. They do have the right to refuse to take it, in which case, they would not be personally liable or responsible. The lender could foreclose; note  that if the value of the mobile home is less than the remaining balance of the loan, the lender *may* be able to sue your estate for the difference, in which case some money or assets which might have gone to your heirs would go to the lender instead. If you are not leaving money or assets to your heirs, though, this is not an issue--that is, if there's nothing for the lender to take, it cannnot take anything.


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