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What are the rights of cosigner of inheriting when the primary dies?
Wiki User
∙ 12y ago
Co-signing gives no rights of inheritance unless that is agreed to in writing at the time of the co-signing.
It should be noted that if the primary borrower dies and their estate cannot pay the debt, the co-signer will be responsible for payment of property they do not own.
Co-signing gives no rights of inheritance unless that is agreed to in writing at the time of the co-signing.
It should be noted that if the primary borrower dies and their estate cannot pay the debt, the co-signer will be responsible for payment of property they do not own.
Co-signing gives no rights of inheritance unless that is agreed to in writing at the time of the co-signing.
It should be noted that if the primary borrower dies and their estate cannot pay the debt, the co-signer will be responsible for payment of property they do not own.
Co-signing gives no rights of inheritance unless that is agreed to in writing at the time of the co-signing.
It should be noted that if the primary borrower dies and their estate cannot pay the debt, the co-signer will be responsible for payment of property they do not own.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoCo-signing gives no rights of inheritance unless that is agreed to in writing at the time of the co-signing.
It should be noted that if the primary borrower dies and their estate cannot pay the debt, the co-signer will be responsible for payment of property they do not own.
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Is a cosigner on a credit card responsible after the primary dies?
Yes.
If the primary borrower dies is the cosigner now resonsible for the loan?
Yes, unless the loan is settled by the estate.
What if primary account holder dies and there is a cosigner?
The co-signer will be required to pay off the debt. That's what they agreed to when they co-signed so that the primary could get the account.
Does a cosigner have to pay the rent when tenant dies suddendly?
I'm pretty sure the cosigner doesn't have to pay it. If the tenant dies suddenly, I wouldn't think his/her family would be obligated to pay the rent, because I'm sure they would move everything out when the tenant dies.
If the cosigner of a home loan dies will the bank go after his estate for repayment?
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
Does a cosigner have to replay a federal student loan if the student dies?
Federal student loans do not currently have cosigners. Parents who take out federal PLUS loans for their kids often think they are a cosigner, when they are actually the sole borrower. All federal student loans are discharged if the student dies.
What kind of grandparent rights are there when your son the child's daddy dies and the mother and the other grandma will not allow you to see your grandchild even tho you were the primary caretaker?
go get an attorney and file for grandparents rights. If you have been a primary caretaker and have had a "substantial relationship" with the child, you qualify for visitation.
Is a cosigner's spouse responsible for the loan if he dies?
No you are not responsible but if your step daughter does not pay the loan they can still repossess the vehicle.
If you are a cosigner on a vehicle loan and your name is listed on the title as OR then what rights do you have when the primary buyer defaults on payments?
You have the right to pay the loan. When a cosigner enters into a loan agreement he is promising to assume responsibility for the debt should the borrower ever default on the loan. This means simply that if the borrower stops making payments the cosigner will have to take over the payments. You may even be responsible for the full payment of the loan in the event that the borrower dies or is disabled. The cosigner, or in many times, the co-borrower is equally responsible for the debt. The debt will be reflected on the co-signors credit report and may negatively impact the person's credit should the debt become delinquent. If the primary borrower cannot pay the debt, the lender will pursue the co-signor just as equally as the primary borrower. In some cases the lender may only go after the cosigner. If you cosign on a auto loan and the borrower does not make his payments, you will be responsible for making the payments even though you do not have posession of the vehicle. The borrower will be driving around in a vehicle that you are paying for, and it can be a nightmare to extract yourself from this situation. You will not only be responsible for any arrears of the loan; you will also be responsible for any late fees, additional interest, and collection fees.
Who pays loan on joint account when only one signed for the loan then dies?
I'm not sure if I get the question. Are you talking about having a cosigner orlike in a PLUS loan? If a borrower dies, the loan can be discharged.
When the cosigner dies is the spouse responsible for a repossion that she did not cosign for?
The spouse is not responsible and should not have this on her credit. But the estate of the deceased will still be responsible for the debt.
What happens when the cosigner dies and the loan is in default?
If the account was secured by what ever was purchased, then it is likely to be repossessed, and regular collection procedures will begin to collect any remaining balance. If the account is unsecured, collections will begin against the guarantor or primary on the account. It is possible that the guarantor may be able to get all or part of the debt covered by any funds available from the cosigner's estate, but this would likely require the assistance of an estate attorney.
