Hi,
My mom recently passed away. She had credit card debt that approximated to about 20,000. She didn't have a will. Also, she didn't have anything of real value except for maybe her mitchell lama apartment (or her shares of the apartment). My question is, can the credit card companies somehow take those shares?
A little more info: My parents were divorced. I have been living in the same apartment with my mom, and her parents for many years now, and am in the works for succession rights. I have been told that we are not responsible for his debt, but are worried that the apartment can and will be taken away.
Is this possible? Will we be notified in such an event or can they just take the value of the shares automatically? Or is it that they can't touch a Mitchell Lama apartment because theoretically my mom really didn't own it.
Please advise on what to do.
Thanks so much for your help!!!