Legal Question in Wills and Trusts in New Hampshire
My sister passed away and left me her home. She had a cosigner on the equity loan. Am I responsible to pay the equity loan or is the cosigner. Does the cosigner have the right to sell home to pay the loan. Thank you
Asked on 4/20/12, 1:34 pm
1 Answer from Attorneys
Bruce L. Dorner
Dorner Law Office
An examination of the Will would be required as a starting point. Generally, you can only inherit what your sister owned. All she owned was the equity in the house subject to the bank's mortgage. So, if you want to keep the house you will probably need to pay the mortgage. You should meet with an attorney as there are other factors that may have an impact on the outcome.
Answered on 4/23/12, 6:20 am