Both owners of a joint credit card are equally responsible for paying off the balance on the card. When one dies the survivor is responsible for the full balance.
No, that would be fraud and/or theft.
It seems like you are asking what happens when one joint account holder dies. I believe that most joint bank accounts are set up so that the surviving account holder would have legal possession of the full balance, the same as he did before the death of the other joint account holder.
The estate, or any person who was listed on the account. The debt must always be settled.
If the cardholder has an estate, the credit card company can pursue that. In practice they don't really do that. If the account is a joint account, the other account holder becomes wholly responsible for the debt. Otherwise the bank eats the money.
No. An authorized user is like a visiting guest in a house. You're able to use all the amenities, but you're not responsible for the mortgage. Only a joint holder on the account -- that is, someone who opened and signed responsibility for the account with another person -- can be held liable for the charges made by the other joint holder.
the fd has to be terminated and principl amount returned to nominee or joint holder without any deductions
In Indiana, when one person dies, their share of the joint checking account typically passes to the surviving account holder. This is because joint accounts have a right of survivorship, meaning that the surviving account holder automatically becomes the sole owner of the funds. However, it is always advisable to consult with a legal professional or the bank to ensure a proper understanding of the specific situation and any necessary legal steps.
No, not unless you are a joint debtor/account holder.
If you are not a joint account holder you are not responsible for the debt. The debt will be included in any probate hearings. The court will then decide which debts (if any) are paid out of the estate assets.
YESSS!!!!! I HAVE A FRIEND THAT HAPPENED TO BY HIS EX-WIFE. HE HAD NO IDEA BUT IS NOW PAYING THOUSANDS BACK
The mortgage obligation remains on the property. If the holder of the mortgage dies then her heirs own the mortgage.