What happens if the primary signer on a mortgae dies, does the co-signer get the property?

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What happens if the primary signer on a mortgae dies, does the co-signer get the property?

My father-in-law co-signed on land and a mobile home. The primary signer died a few months back; does he get the land and mobile home?

Asked on April 18, 2012 under Real Estate Law, Louisiana

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Not unless his name is on the deed to the land or the title to the property.  Co signatories get all the liability with out wny of the perks, so to speak.  They have no possessory interest in the asset that they co sign.  I would have you father in law speak with an attorney on the matter to best protect his interests here.  Good luck.


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