If someone dies and owns a house with a mortgage on it, can his son or daughter, sole beneficiaries, keep the house and assume the mortgage payments or will they be forced to sell the house?
Answer
One can assume a mortgage if the lender so allows but generally assets will need to be sold to pay any debt of the decedent, with any resulting proceeds distributed among the heirs. If there exists enough money outside the home to pay off debts, then the heirs might keep the house.
While I hope this general information helps it should not be used as a substitute for personalized legal advice.
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