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Debt of someone that has passed away

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MartinO View Drop Down
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Joined: 02/March/2009
Location: Australia
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  Quote MartinO Quote  Post ReplyReply Direct Link To This Post Topic: Debt of someone that has passed away
    Posted: 17/June/2009 at 21:46
The debts of a deceased person should be paid from the estate of that person. If there is insufficient funds in the estate after all the assets are sold to cover all the debts then the secured debtors should be paid first and other debtors should be paid x cents in the dollar till the funds are exhausted.

The family of the deceased are under no obligation to pick up the tab of debts that are solely those of the deceased. Any joint debts become the debts of the surviving party.
I am NOT a lawyer. Anything said is NOT legal advice.
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Freckles80 View Drop Down
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Joined: 17/June/2009
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  Quote Freckles80 Quote  Post ReplyReply Direct Link To This Post Posted: 17/June/2009 at 19:53
Hi i just wanted to know whether the debt of someone that has passed away has to be paid ? and if so, is it the next of kins responsibilty ?
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