Legal Question in Wills and Trusts in Michigan
Co-signer who passes away
My mother recently passed away and did not have a will. 4 years ago I purchased the Mobile home my mother lived in because she was in need of the money. I lived out of state at the time so the bank that I financed through wanted me to have someone who lived in the state as a co-signer. My mother co-signed on the loan. Now that she has passed away the issue brought up among my family is do they have a legal right to a portion of the house. My question is the loan in is my name with my mother as a co-signer, the title states at the top ownership to survivor. I have made the monthly payments since the loan was done, the payment book is in my name. My family now wants to see my loan papers, title and payment books. They are also telling me that this will need to go through probate court since she is listed as the co-signer.
1 Answer from Attorneys
Re: Co-signer who passes away
Part of the answer to your question depends on whether the title to the property was in your name alone, or held jointly between you and your mother. If you conducted a legitimate realestate transfer when you bought the property and it was warranty deeded to you - then the property is probably yours. If however, it was held in both your names jointly the language in the deed should read JOINT TENANTS WITH RIGHTS OF SURVIVORSHIP - if this is the case then the property passed to you upon the death of your mother. Second, because your mother died without a will she is said to have died intestate and her estate (whatever is left-over - money, stocks, personal property) will have to be probated throught the Michigan laws pertaining to intestacy. Without knowing who your other family members are I cannot determine more precisely who is entitled to what. Further, without seeing any of your documentation I don't know if you own the property out-right or are required to relinquish a share to other family members. If you would like further information do not hesitate to call me for an appointment.
Kindest Regards,
Geoff Lahn (734) 944-2175
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