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Updated almost 11 years ago,

Timothy Nelson's profile image
Timothy Nelson's profile image
Timothy Nelson
  • Real Estate Investor
  • from Portland, Oregon
  • Member since Jan 13, 2014
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31
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Timothy Nelson's profile image
Timothy Nelson's profile image
Timothy Nelson
  • Real Estate Investor
  • from Portland, Oregon
  • Member since Jan 13, 2014
Connect
Timothy Nelson
  • Real Estate Investor
  • Portland, OR
0
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31
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Tax, SDIRAs & Cost Segregation

Paying Off Loans on Inherited Property

Timothy Nelson
  • Real Estate Investor
  • Portland, OR
Posted

I inherited a home oat the end of August 2011. The property carries a home equity loan in the name of deceased relative. I have been paying the bill every month since. I never contacted the lender to know about borrower's death. The house is for sale now. Am I legally required to pay off that debt? If so, is it possible to get a reduction in pay-off amount as I am not the borrower?

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