What to do if my mother and my sister went into business together by refinancing of my mother’s house but she passed away and now the 359k is an issue?

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What to do if my mother and my sister went into business together by refinancing of my mother’s house but she passed away and now the 359k is an issue?

They (sister and husband) have been paying on the debt for 7 years. They are saying we owe 250k of the debt. What can we do?

Asked on October 1, 2012 under Business Law, Georgia

Answers:

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

Answered 8 years ago | Contributor

I am so sorry for your loss and for the situation.  Why are they saying that you have to pay on the debt?  Because you inherited part of the house?  Was the refi in your Mother's name only?  Was there an agreement between your Mother and your Sister as per the business?  The problem here is that if there is no agreement as to the business and the refi then the debt comes with the inheritance although it is really not fair.  You are going to need legal help in your area to sort through this carefully.  I fear that you are going to have a family fight on your hands. Good luck.


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