OWNER FINANCING CONTRACT QUESTION - WHAT HAPPENS IF OWNER PASSES?

[Gary C Jones]

If I were to acquire a property using owner financing for example:  Purchase single family home from owner for $100k.  $5k down payment and zero interest monthly payments for remaining balance of $95k @ $527/month for 180 months.  My question is, what happens if (God forbid), after 60 months, the owner passes away?  

[Davido Davido]

You would owe the money to his estate (Heirs).  If the estate is not well managed, and the heirs are clueless, there is a possibility (unlikely) that no one would step in to collect the debt.