Question:
Individual dies 2/2006, leaves home to non-relative. No cash in estate to pay mortgage and interest. House not distributed/ re-titled until 1/2007. Non relative that inheited the property has been making payments.
Are these payments loans to the estate since he cannot deduct interest/tax because he is not liable on debt?
Boots
Individual dies 2/2006, leaves home to non-relative. No cash in estate to pay mortgage and interest. House not distributed/ re-titled until 1/2007. Non relative that inheited the property has been making payments.
Are these payments loans to the estate since he cannot deduct interest/tax because he is not liable on debt?
Boots