Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Liability on an Account Liability on an Account November 9, 2021 Legal responsibility to repay debt.You Might Also Like: Living QuartersSpring Maintenance Checklist for Your Home All Things CommunityHoli-days of Giving 2022 Everyday MoneyGiving Back During the Holiday Season Living QuartersYour Top Mortgage Questions Answered Living QuartersHow to Understand Mortgage Language