Legal Question in Wills and Trusts in Missouri

My mother in law cosigned a home loan note for my wifes brother (her only son) a few years ago before he passed away. Now, my mother in law is nearing the end of her life which will leave my wife as the last family member and manager of her estate. My wife will need to know: will the estate be responsible for, or obligated in any way because of that cosigned note? Thank you.


Asked on 4/05/10, 6:41 am

1 Answer from Attorneys
Richard Herndon Richard J. Herndon, Attorney at Law

IF there is a probate estate, the probate estate will be liable for the obligation. HOWEVER, if it is a mortgage on real estate, which seems to be the case, then the note would be satisfied out of a sale/foreclosure of that property first. If there is NOT a probate estate, then collecting on the note would be much more difficult.

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Answered on 4/10/10, 7:57 am


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