Legal Question in Wills and Trusts in New York

I would like to apply for a mortgage and I need a co-signer. My father-in-law may be interested in cosigning for me but would like to know if it would affect his estate upon his death? I keep getting conflicting answers. The mortgage broker stated that as long as his name is only on the application and not on the deed, his estate wouldn't be affected. I read as long as there is a "successor clause" on the documents stating that, it would be ok. Is there even such a thing. Can they hold the estate as collateral until the house is paid off? Please help.


Asked on 5/02/16, 7:10 am

1 Answer from Attorneys
David Slater David P. Slater, Esq.

If he signs, he is responsible for payment.. His estate will also be responsible.

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Answered on 5/04/16, 4:59 am


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