Legal Question in Real Estate Law in Minnesota

co signing loan

If I cosign for a loan and the people default and I pay off the loan is the property mine to sell?


Asked on 12/12/06, 10:03 am

1 Answer from Attorneys
Maury Beaulier612.240.8005 Minnesota Lawyers

Re: co signing loan

Being a co-signor on a loan is different than being a co-owner of property. the loan involves signing on a debt instrument. The ownership is a matter of title. In short, the answer to your question is that being a co-signor on a loan bestows you no ownership rights and you cannot sell a secured or unsecured asset purchased with the debt.

Visit us online at minnesotalawyers.com

Read more
Answered on 12/12/06, 10:06 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Minnesota