If any unpaid loans to the deceased
were cosigned by another person, that person will likely be
liable for any balance unpaid after repayments are made from
Some debts may be extinguished upon
the death of the debtor - for instance, in the case of
insured loans or mortgages.
Student Financial Assistance Act provides for some
student loans to be repaid by the federal government in the
event of the student's death or permanent disability.
For information regarding what happens in each
province, see What
to do when someone dies, which has links to wills and estate
information on provincial/territorial websites.
Revised: December 18, 2012