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Debt owed to estate

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M

mczoo

Guest
Last year my husband and I purchased a home, we financed the downpayment through the seller as a second mortgage. Unfortunately the seller recently passed away unexpectedly, although we have a 5 year contract and we are concerned that there might be problems now. For example can the heirs demand payment now, and since the estate is now in probabte or because this debt is $20,000 will that hold up them being able to settle the estate. We live in Kansas
 


ALawyer

Senior Member
Unless the docments provide for accelleration on death, which I doubt, this should have no impact. If they approach you to ask you to pay it off early you have no obligation to do so, but if you can refinance it at a lower rate, or they pay you an incentive to pay it off early, consider it.
 

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