Chalk this up to my curiosity but maybe someone can help me understand some parts of probate in texas. I’ve been researching to better equip myself so I can help potiential sellers but I’m really confused lol. Let’s say inthe future after a long loving marriage with lots of kids and what not, I pass away without a will or anything like that😢. If I had debt, is my now family responsible for that debt? Does my debt have to be paid first and whatever is left over is then passed on to my family ? What if I had property prior to my marriage and unfortunately I died as the sole owner on the deed. Will my family be entitled to my estate ?
Any information is appreciated!!!!
Family is typically not responsible for debt, but the estate is. So let's say the house is paid off, single owner at time of death and they had $10,000 in credit card debt. Estate would need to pay off debt with proceeds from the house if that was the only asset. Also not unusual for example to see hospital judgements on homes of deceased people. They run up big hospital bill in process of passing and hospital files judgement on the assets.
2nd part of your question is a lot more complicated and has various outcomes. Are there children? Children from previous marriage? Children with current spouse. Prenup? Is there a will or no will? Probate questions are not always easy. The easiest way I have found to answer those questions is before you sign a contract, get the title company you plan to use to research the title and tell you who needs to sign.