The Loans of a Ghost

When a person dies in law, they have successors (or personal representatives) who manage their estate. The person who is dead may have chosen their own successors by naming them in their will. On the other hand, if the dead person failed to name their successors, the law has a formula (ok that sounds deep) a list of possible persons who formally ask a court to recognise them as successors.

The property of a person who has died is known as their "Estate". In a loose sense, an estate includes the successors of the dead person.

If a person takes a loan from a bank, and dies before they can repay, the Bank may take steps to recover the money from the successors/personal representatives/estate of the dead person.