What happens to debt when someone dies? The Protocol for Debts when someone passes away
What is the Estate?
- Debts are retrievable through the estate.
- Any assets or money left behind.
- The debts do not move personnel unless another individual has signed a personal guarantee.
Two Types of Tenancy For a Bought House
Joint Tenants and Tenants in Common
- Joint Tenants:
- Tenants in Common
- Can an agreement be made to stop the property being sold?
- Is it an issue if my name is not on the mortgage?
- Is it possible for an individual residing in the property, to occupy the tenancy?
- If I succeed the tenancy, am I accountable for the rent arrears?
- Informing The Department for Work and Pensions
- Notifying the Council
- What if I cannot afford Funeral Costs?
- Who is accountable for the Energy bills?
- Who is accountable for the Water Rates?
- Who is accountable for the Council Tax?
- Who is accountable in the case of a hire-purchase agreement?
- Who is accountable for any debts by credit card, overdrafts and catalogues?
- Sorting out Bank Accounts
- Sorting out Savings
- Sorting out Pensions
- Sorting out Life Insurance
- Sorting out Income Tax
- Personal Representative