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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 33794
Experience:  15 yrs estate law, real estate. Wills/Trusts/Probate
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If a parent co-signs on a mortgage loan child then the

Customer Question

If a parent co-signs on a mortgage loan for a child then the parent dies with a balance owed on the mortgage, is the value of the house included in the dead parent's estate for probate?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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Is the parent on the deed as a co-owner of the property?

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If so, did they take title as "joint tenants"?

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thanks

Barrister

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Customer: replied 1 year ago.
The parent just signs as a co=signer on the mortgage not as JT on the title
Expert:  Barrister replied 1 year ago.

Ok, then if the parent is not on the deed or title, then the property wouldn't be considered an asset to be included in their estate since they do not have a legal ownership interest in it. They just signed agreeing to be liable for the debt.

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thanks

Barrister

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