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Updated almost 12 years ago on . Most recent reply

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Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
1,043
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What Personal Responsibilities Do Legal Reps (i.e. Executors/Administrators) of an Estate Have?

Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
Posted

I have the question out to my attorney but figured I'd see if I can get a general preview of his answer here. I'm curious about the following:

Can creditors keep contacting/harassing the Rep about debts owed by the Estate?

Can those debts affect him/her individually? In other words can they show up on his/her credit report?

Can a judgment be levied against her?

Does it matter if a foreclosure complaint list the legal Rep. 'Individually' vs. as 'Executrix' when foreclosing on a property owned by the Estate?

Again, thinking K. Marie Poe and/or Rick Harmon might have an answer for me.

Thanks in advance.

Most Popular Reply

Account Closed
  • Investor
  • Central Valley, CA
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Account Closed
  • Investor
  • Central Valley, CA
Replied

Did you check with your attorney? It sounds like you are saying that the Exec is named individually in a judicial foreclosure? The Exec cannot become responsible for the secured debt of the borrower. However they are responsible for making sure all funds from a sale are allocated properly. A creditor can sue an executor individually in an attempt to make sure that funds from a sale are used to pay the creditor. Ask me how I know.

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