If my father takes out a loan and then dies, who is responsible for it?

0 answers | Last updated: Jun 29, 2010
Q
Pipi asked...
I live with my elderly father. He is dying and wants to take out a 10,000 loan. He still hasnt accepted the fact that he is dying. What I want to know is , if he takes out this loan, will I be responsiable for it. At his passing I inherit the house and the land. He also has a 27,000 life insurance policy. If he gets this loan and then dies, Will i be responsiable for it , could I lose my home and land over this? We live in Louisiana and I dont know what the laws are.
 

 
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