Estate Mortgage Distribution Explained

Summary

In Massachusetts, if a property is sold and one estate has a mortgage, the debt must be settled from that estates assets. This can lead to unequal distribution, with the estate holding the mortgage receiving less after the debt is paid. The other estate should receive its full share, assuming no other debts are involved.

Full Conversation

Why does the one estate gets less money because theres a loan on the other estate
In Massachusetts, if one estate has a mortgage, the debt typically must be settled from that estate's assets before distribution. This can result in less money being available for distribution from that estate compared to an estate without such obligations.
If you have more details or specific questions about your situation, feel free to ask!
So if i sell a house for 200k and do to * estate has a mortgage then that should come out of there 100k estate not mine correct
In Massachusetts, if a property is sold and there's a mortgage tied to one estate, the mortgage typically must be paid off from that estate's assets. This means the mortgage debt should come out of that estate, not yours, assuming the mortgage is specifically linked to that estate. If you need more clarification, feel free to ask!
Soo a 200k split in to * estate that be 100k each then to mortgage will come out of the right estate that will leave him about 40k and mine should be 100k right
Case Rating: *
In Massachusetts, if the mortgage is tied to one estate, that estate would be responsible for settling the mortgage. Therefore, if a $200k property is split into two $100k estates, and the mortgage is tied to one estate, it should be paid from that estate's portion, leaving the other estate with its full share. If you have any specific questions, feel free to ask!