Legal Question in Real Estate Law in Illinois
My mother and I are on our home mortgage. We have always been current with our payments. My mother has the house in trust naming my 2 sisters as benificaries in the event of her death. What are my rights as the co-mortgage holder in the event of her death? I have never signed the trust, nor do I agree with it. Who would have greater rights in the event of her death? Me or my sisters?
3 Answers from Attorneys
You have no rights if you are not a beneficary. Being a co-mortgage holder merely means that you are responsible for the mortgage. Based on your submission, you have no ownership rights.
I agree with Burton. You have a duty to pay, but are excluded from ownership. Not good.
If the property is title solely in the trust, you have no ownership rights whatsoever.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
