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submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 6 points 2 months ago (1 children)

You get what's left over.

If you get left a house that's 300k, but they had 250k in debt, you end up with 50k.

But if you get left a 300K house, and they had 500k in debt, you don't owe 200k. You just don't get the house.

[–] [email protected] 1 points 2 months ago

You would have to pay off the 250 k debt though, if you want to keep the house. You can't give the house away without paying the debt first.

The one inheriting the house may want to take a 250k loan to afford that 300k house.