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Inherited Debt?

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022425421 | 17:05 Tue 15th Aug 2006 | Business & Finance
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My father is in a bad health state & also in alot of debt. If he was to die & his house did not cover the debt, would his children be responsible for the debt in any way at all?

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No - the money would be owed by his estate - ie his house etc. His children will not be responsible (unless of course fraud is involved where he has transferred goods to his children to ensure that his creditors do not get money)
to put it the easiest way your debts die with you a bit blunt but thats the way it is
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Inherited Debt?

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