If I co-own property with someone and they pass away, can their property be taken to pay their outstanding debts?

Asked on September 23, 2012 under Estate Planning, Wisconsin


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country, if a joint owner of real property with you passes owing debt, his or her interest in the property (not yours) could end up being auctioned off or sold to pay for the debts owed.

If this seems to be what might happen, you might be able to acquire the deceased co-owner's interest in the property you have title with him or her at a decent price. I suggest you consult further with a real estate attorney about the situation.

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