Q&As

Where a property held in the deceased's sole name and subject to a mortgage (and without any life insurance in place) is left on a life interest trust for the surviving spouse, who is liable for the mortgage?

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Produced in partnership with Matthew Watson of XXIV Old Buildings
Published on LexisPSL on 11/02/2021

The following Wills & Probate Q&A produced in partnership with Matthew Watson of XXIV Old Buildings provides comprehensive and up to date legal information covering:

  • Where a property held in the deceased's sole name and subject to a mortgage (and without any life insurance in place) is left on a life interest trust for the surviving spouse, who is liable for the mortgage?

Where a property held in the deceased's sole name and subject to a mortgage (and without any life insurance in place) is left on a life interest trust for the surviving spouse, who is liable for the mortgage?

Where a person dies solvent and owning real estate subject to a mortgage, the loan secured by the mortgage is a debt payable by the estate. The personal representatives (PRs) are under an obligation to pay the mortgage debt with due diligence having regard to the assets in their hands properly applicable for that purpose (see Re Tankard). Unlike other debts, special rules apply to the payment of debts charged on the deceased’s property, such as a mortgage debt. The property charged is primarily liable for the payment of the debt, unless the deceased has shown a contrary intention by Will,

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