C
constel
Guest
An individual has decided to leave me in her will a house which she has recently bought. She is no relation of mine.
If I inherit the house with much of the mortgage still to pay, and the house is now worth less in the current market than the original mortgage (i.e. into negative equity, yes?), AND I cannot afford to pay the mortgage, what are my options please and what am I legally obliged to do in terms of taxation (even if I sell immediately)?
Advice appreciated.
If I inherit the house with much of the mortgage still to pay, and the house is now worth less in the current market than the original mortgage (i.e. into negative equity, yes?), AND I cannot afford to pay the mortgage, what are my options please and what am I legally obliged to do in terms of taxation (even if I sell immediately)?
Advice appreciated.