What happens if a previously unknown creditor makes a claim on the estate?
This is a risk that IFC takes. If there are not sufficient assets at the end of the probate to cover the amount of the assignment, then IFC takes the loss. The heir is not liable to pay back the assignment unless, of course, the heir was aware of the claim(s) and failed to tell IFC about it in the application process.
Related Questions
- What happens if the estate has more than $100,000.00 in probate assets, not including the homestead, or has more than one creditor and there is no properly drafted will?
- What happens if a previously unknown creditor makes a claim on the probate estate?
- What happens if a previously unknown creditor makes a claim on the estate?
