a home owner passed away and there is a co-signer on the property. I would like to know if the estate can take the co-signer to court if the co-signer does not want to sell the property because there were outstanding arrears on the mortgage that the co-signer had paid for. How do you buy out the estate if this is possible?
If you are saying the property was jointly owned, you can request a sale with a split of the proceeds.
If he is just a co-signer on the note, then the estate can sell the property and pay off the note, removing the responsibility from the co-signer.
if a home owner passes away can the estate try to sell the house if there is a co-signer on the title?
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If he refuses to cooperate he can be taken to court but that does not mean you will win.*
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i think so
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It depends on the paperwork. The "co-signer" certainly has grounds for a lien on the property which would cloud the title in any sale were he not paid off.
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Only the deceased person’s interest can be sold. You can always make a deal with the owner of the rest of the property.
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There are no co-signers on titles. There can be a co-owner on the title, or a co-signer on a loan. A co-signer on a loan may, or may not, also be a lien holder on the property.
One cannot know what the law allows without first clarifying the actual situation.
Richard
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If you are saying the property was jointly owned, you can request a sale with a split of the proceeds.
If he is just a co-signer on the note, then the estate can sell the property and pay off the note, removing the responsibility from the co-signer.
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s–attorney 24 years
Try your question again. The phrase "co-signer on the title" is meaningless. The title does not require the signature of the owner and the mortgage can have a signer that is not an owner. If you really mean "title" and not the mortgage, then the answer will probably turn on the nature of the ownership, whether they are tenants in common or joint tenants.
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