So, if there are greater claims on the estate than realisation of assets will achievehow does it work? Wasn't anywhere near an issue with the estate I wound up as the mortgage was £40k, other debts about £6k and we got in £190k from death in service and a further £250k from the sale of the house.
If, say, the property had a mortgage of £200k, but had to be sold for £180k and there were £20k in debts, what happens then? I'm guessing there would be nothing to pay to the beneficiaries but what's the hierarchy of creditors? What if there were legal fees?
I'm just curious.
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garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 13:09,
archived)