• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Does Debt Disappear When You Die? Here's What You Need to Know

MULTIZ321

TUG Member
Joined
Jun 6, 2005
Messages
31,572
Reaction score
9,097
Points
1,048
Location
FT. LAUDERDALE, FL
Resorts Owned
BLUEWATER BY SPINNAKER HHI
ROYAL HOLIDAY CLUB RHC (POINTS)
Does Debt Disappear When You Die? Here's What You Need to Know.




Richard
 

am1

TUG Member
Joined
Dec 3, 2009
Messages
8,127
Reaction score
1,544
Points
448
Good to know as otherwise it costs us all.
 

Talent312

TUG Review Crew: Veteran
TUG Member
Joined
Jul 4, 2007
Messages
17,629
Reaction score
7,466
Points
948
Resorts Owned
HGVC & GTS
What the article doesn't say is that, in most states, after notice to a debt holder, a claim-clock starts running, and if the debt holder does not file a timely claim, their claim is barred. This is to establish certainty as to what debts the estate is subject.
Of course, liens on property (mortgages) survive that and dealt with.
.
.
 
Last edited:

dagger1

TUG Member
Joined
Aug 16, 2016
Messages
1,475
Reaction score
842
Points
223
Location
Houston
Resorts Owned
Hyatt Wild Oak Ranch, Hyatt Main Street Station, Hyatt Ka’anapali; Marriott Ko’Olina, Marriott Waiohai; Marriott Maui Ocean Club; Wyndham CWA points, Worldmark credits.
I wonder what TS HOA’s do when owners die and the MF’s stop coming. I assume they foreclose at some point.
 

Talent312

TUG Review Crew: Veteran
TUG Member
Joined
Jul 4, 2007
Messages
17,629
Reaction score
7,466
Points
948
Resorts Owned
HGVC & GTS
I wonder what TS HOA’s do when owners die and the MF’s stop coming. I assume they foreclose at some point.

They may claim amounts currently due. For future MF's, if executor unloads it on some unsuspecting heir(s), they'd pay it. OTOH, if its disclaimed, the HOA could accept an executor's deed-back or foreclose.
 

AnnaS

TUG Member
Joined
Apr 26, 2008
Messages
2,166
Reaction score
1,218
Points
523
Location
NY
I see student loan, mortgage, cc.....what about a car Loan or lease? If it is only under one name but married. For example, our car is a lease under hubby's name. If he passed, the lease can be returned? I don't see this scenario mentioned. I/we should look into this/ask about it. Always good to know.......Coming up in a few months.
 

CalGalTraveler

TUG Review Crew: Veteran
TUG Member
Joined
Dec 21, 2014
Messages
9,936
Reaction score
8,455
Points
498
Location
California
Resorts Owned
HGVC, MVC Vistana
Anyone familiar with debts when a Transfer on Death(TOD) is in place? We have an elderly relative with debts on her home and a TOD in California. TODs do not have an executor to settle accounts before it passes to heirs.
 

dagger1

TUG Member
Joined
Aug 16, 2016
Messages
1,475
Reaction score
842
Points
223
Location
Houston
Resorts Owned
Hyatt Wild Oak Ranch, Hyatt Main Street Station, Hyatt Ka’anapali; Marriott Ko’Olina, Marriott Waiohai; Marriott Maui Ocean Club; Wyndham CWA points, Worldmark credits.
Anyone familiar with debts when a Transfer on Death(TOD) is in place? We have an elderly relative with debts on her home and a TOD in California. TODs do not have an executor to settle accounts before it passes to heirs.
I think TOD deeds like we have here in Texas transfer debts with the deed they are secured by. I think the heir would receive the property without going through probate but the debts remain and are still secured by the deed.
 

WVBaker

TUG Member
Joined
Mar 19, 2015
Messages
2,487
Reaction score
2,087
Points
323
What the article doesn't say is that, in most states, after notice to a debt holder, a claim-clock starts running, and if the debt holder does not file a timely claim, their claim is barred. This is to establish certainty as to what debts the estate is subject.
Of course, liens on property (mortgages) survive that and dealt with.
.
.
That's an interesting concept for minimal debts, but I can't see many higher debt amounts being forgotten, so to speak. Some states still banish people to debtor's prison for less. :eek:
 
Top