Company Targets Estate of Kanye West’s Mother to Satisfy 600k Debt

Northern Trust Company, an Illinois based mortgage lender, has filed a suit in California Superior Court against the estate of Donda West.

 

The claim was initially reported by tmz.com, and released court papers show the creditor is requesting a total of $606, 983.43.

 

The figure includes two mortgage loans on a condominium Ms. West originated in January 2006, along with accrued interest at 6.311% from that date.

 

While laws vary slightly by state, Kanye is not personally liable for the debt. However as conservator, the lender is hoping the worth of Ms. West’s estate is enough for Kanye to pay off the mortgage debt.

 

Kanye as co-executor has the options of selling the condo to satisfy the debt, or letting the property go into foreclosure. With the latter, the creditor would be responsible for handling the property upon the foreclosure sale, releasing the estate from further liability unless there is a deficiency judgment.

 

Donda West passed away on November 10, 2007 after complications from cosmetic surgery procedures.  

 

Extremely close with her son, she wrote her first book shortly before her passing called Raising Kanye: Life Lessons from the Mother of a Hip-Hop Superstar in 2007.

 

Kanye West could not be reached for comment.

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