Answers.com > Wiki Answers > Categories > Business & Finance > Real Estate > What happens to debts if estate is in debt?

What happens to debts if estate is in debt?

In: Real Estate [Edit categories]

Answer:

The estate has to pay all of them off if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.

Contributor:

Aggie80

First answer by Aggie80. Last edit by Aggie80. Contributor trust: 4980 [recommend contributor ]. Question popularity: 3 [recommend question].

[report abuse]

Can you answer these Real Estate questions?

	Who does a real estate broker generally work for?	Answer it!
	What happens if a name is misspelled on a real estate sale agreement?	Answer it!
	Is a real estate agent a party to the transaction?	Answer it!
	What are the guidelines regarding real estate or personal property tax exemptions for disabled persons living in Arkansas?	Answer it!
	How does a short sale work?	Answer it!

Relevant answers:

What happens to the debt if there is no money in the estate?
The estate has to pay all of the debts off if at all possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts...
What happens when no estate and no insurance who pays debts?
The decedent's estate is responsible for the decedent's debts. If there are no assets the creditors are out of luck.
If the Deceased did not have an estate what happens to his credit debt?
The reason and estate is opened is to pay all the debts off if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution,...
If the decease has credit card debt with no dollar value to his estate what happens to the debt?
The estate has to pay all of the debts off if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are...
If a creditor writes of a debt as a bad debt what happens next?
Even if a creditor writes off a debt, you still owe the money, it only means that they do not think you will pay or they have waited the maximum allowed time under Generally Accepted Accounting...