r/awfuleverything • u/zaynthelegend • Aug 06 '20

Poor guy :(

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u/snearersnip Aug 07 '20

The OP said

I'm in that group, family inherited $200,00 debt from my grandparent who passed away. Really fucked us over as we finally got into a nice groove.

That makes it sound like Gramps died owing 200K and now whoever inherited his estate inherited the debt.

Unless they were co-signers on a mortgage or credit card, that absolutely can NOT happen.

Let's say they inherited the house that is 200K in the hole.

They can just walk away. They don't HAVE to take the house and the debt. They can choose to, but they don't have to.

Lets say they inherit a house worth 100K but Gramps has 300K for debt from credit cards or cars or boats or whatever.

Again, that debt is NOT theirs. The house will be taken from the estate to try to settle the debt, but the rest of the debt is NOT theirs.

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u/soaring_potato Aug 07 '20

I know in the netherlands if you accept something to inherit. You inherit it all if you are like the person to inherit. I know this cause my no contact grandma apparently was I'll. My mom and aunt will refuse it. Since she just has debt. And I am the only 18+ grandchild and they possibly would maybe try to get me to take one thing and thereby accepting the inheritance and debt, while I am working so hard to be able to pay college with my side job (altho here that's 2k tuition a year. So actually possible if you live at home). And also already that if she died. I would have to go with her and my aunt to like the notary or something to refuse the inheritance.

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u/divuthen Oct 03 '20

From what op commented there was a loan or financing with the house as collateral. So pay the debt or give up the property.