As a joint tenant with right of survivorship, am I responsible for my late father's credit cards, loans and mortgage?
Question Details: I am joint on 1 bank account for a loan but did not co-sign on the loan. I did not co -sign on any credit card nor any loans from other institutions. I did not sign on mortgage. Also, I'm not sure if there was mortgage insurance.
No, being joint does not make you responsible for your father's various debts and obligations (it is possible that creditors may be able to take his share of the money in the joint bank account but they can't make you pay personally or out of pocket; the most you could "lose" is your father's money in the account which might otherwise have come to you). One adult is not responsible for another adult's debts, even a parent's, unless he or she signed for or guaranteed them.
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