Purchasing in a 55+ Community - AZ
Hi, Been lurking here for some time, figured now is as good a time as any to make my first post. For the past couple of years we've rented a park model in a 55+ community and we think we're rea...
Forum Discussion
Yes, ScottG the bank will pay immediately but you aren’t home free. In California if the decedent had any unsecured debt you might have to pay it up to the amount received.
Probate Code § 5672. Each beneficiary is personally liable to the extent provided in Section 5674 for the unsecured debts of the transferor. Any such debt may be enforced against the beneficiary in the same manner as it could have been enforced against the transferor if the transferor had not died. In any action based on the debt, the beneficiary may assert any defense, cross-complaint, or setoff that would have been available to the transferor if the transferor had not died.
Probate Code § 5672. Each beneficiary is personally liable to the extent provided in Section 5674 for the unsecured debts of the transferor. Any such debt may be enforced against the beneficiary in the same manner as it could have been enforced against the transferor if the transferor had not died. In any action based on the debt, the beneficiary may assert any defense, cross-complaint, or setoff that would have been available to the transferor if the transferor had not died.
