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**Dwnijzhd** · 02-28-2012, 11:48 AM

No and Yes. If they had no assets and leave nothing to you then you will owe nothing. However, if they left you real estate, money, etc but have debt, creditors will get those assets if you refuse to pay the debt, or can with legal action.

Thank you and Gnius. Basically the answer that I was seeking.

To expand on it a little bit lets say this.

Parents do leave assets, but also leave debt. Lets say that the debt outstrips the assets. Im sure this will be a yes no answer? but once all the assets are gone, do the kids foot the bill even if they don't want anything, (house, car, etc)

and

Parents leave $50k in the bank and a house with X amount of mortgage with no other debts. Can you just bounce with the $50k and let the bank take the house back or would the bank get the $50k, plus the house if you don't want to finish paying the mortgage off?
Im sure this might too be a yes no answer depending on where one lives I guess.

02-28-2012, 11:48 AM	#7
Dwnijzhd Join Date Oct 2005 Posts 427 Senior Member	No and Yes. If they had no assets and leave nothing to you then you will owe nothing. However, if they left you real estate, money, etc but have debt, creditors will get those assets if you refuse to pay the debt, or can with legal action. Thank you and Gnius. Basically the answer that I was seeking. To expand on it a little bit lets say this. Parents do leave assets, but also leave debt. Lets say that the debt outstrips the assets. Im sure this will be a yes no answer? but once all the assets are gone, do the kids foot the bill even if they don't want anything, (house, car, etc) and Parents leave $50k in the bank and a house with X amount of mortgage with no other debts. Can you just bounce with the $50k and let the bank take the house back or would the bank get the $50k, plus the house if you don't want to finish paying the mortgage off? Im sure this might too be a yes no answer depending on where one lives I guess.
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