Can a co-signer’s signature on a loan be invalidated if they were suffering from dementia at the time that they signed?

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Can a co-signer’s signature on a loan be invalidated if they were suffering from dementia at the time that they signed?

My grandmother co-signed the loan at age 89 and 13 months later was officially diagnosed with dementia. A person suffers dementia long before diagnosis and my cousin took advantage. How can we get the co-signature reversed from the student loan so that the loan is solely in my cousin’s name (she is the principal)? At age 93 today, my grandmother has no recollection of her signature.

Asked on December 17, 2011 under Bankruptcy Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Whether or not your grandmother's signature as a co-obligor on the student loan that you are writing about can be deemed invalid due to her failure to have the mental capacity to to have signed the document will depend upon medical opinions starting with her treating physician based upon the time when she signed the document.

I suggest that assuming there is someone having a power of attorney over your grandmother at this time consult with her treating physician as to her cognitive abilities at the time she signed the student loan for a medical opinion. I also suggest that an attorney who practices elder law be consulted about the situation as well.


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