If a co-mortgagor dies, who is responsible for paying their share?

When a mortgage is owned and deeded to 3 family members that are sharing all the expenses of the property by a third each, when one of those people dies, is that person’s estate responsible for their share of the mortgage balance at the time of their death?

Asked on November 7, 2011 under Real Estate Law, New Jersey


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Good question. If the loan agreement is between three members and one dies, the other two surviving members typically step up and pay the mortgage's monthly amount until the estate of the deceased person is placed in order to pay the deceased person's share.

The amout of the share to be paid is typically evidenced from past payments when the person who was alive made them.

The surviving members are then entitled to reimbursement of the amounts paid for the time they did so for the estate.


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