If a person dies and has a line of credit account with a bank, what happens?
A line of credit account is a contract. Contracts are extinguished upon death, but open debts are obligations of the decedent's estate. Good luck!
Garden City, NY
Litigation Lawyer at Garden City, NY
Practice Areas: Litigation, Commercial, Chapter 11 Bankruptcy
A line of credit account is a contract. Contracts are extinguished upon death, but open debts are obligations of the decedent's estate. Good luck!
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