Do you inherit your parents’ debt?
This is a common question with a complex answer. In most cases, the answer is no, you are not responsible for your parents’ debts when they die. However, there are some exceptions to this rule.
One exception is if you co-signed a loan with your parent.
In this case, you are legally obligated to repay the debt if your parent defaults. Another exception is if you inherit property from your parent that is subject to a mortgage. In this case, you may be responsible for paying off the mortgage if you want to keep the property.