Legal Question in Wills and Trusts in Ohio
Co-Signer for Mortgage
Married couple in early 60's. Husband co-signs for sons home mortgage, wife does not co-sign.
Wife is beneficiary for husband's estate. If husband should decease, would the fact that he is co-signed on son's mortgage impact what happens to his estate? Would wife still inherit entire estate or would son's mortgage be considered a debt to be paid before estate would be passed to wife?
Asked on 7/21/08, 5:13 pm
1 Answer from Attorneys
Nancy Fioritto Patete
Nancy Fioritto Patete, Esq.
Re: Co-Signer for Mortgage
Normally, both spouses have to agree that they will be responsible for a child's debt. In this case your husband took on the risk for his son.
Answered on 7/24/08, 8:10 am