Co-Signor’s Rights? What Are the Property Rights of Co-Signors?

Share the Knowledge!

“My question is can a co-signer for real property restrict the sale of the property if both names are on the propery mortage contract.”

[NOTE: Articles and answers on DearEsq., while written and published by lawyers, do not constitute legal advice, and no attorney-client relationship is formed by your reading of this information. You should always consult with an attorney for any legal situations.]

Typically no. Further, if you have to end up making good on the debt because the primary loan-holder defaults, your only recourse will be to sue the primary loan-holder, while the bank can still end up with the property! Generally speaking, if you want to be able to exercise control over what happens to the property, you need to take title to the property jointly with the other party. Of course, this is all subject to the laws of your state, which may have non-standard rules regarding the rights of co-signors.

Share the Knowledge!

Author: Anne P. Mitchell, Esq.

Anne P. Mitchell, Esq. is a noted family law expert, Internet law expert, and Professor of Law at Lincoln Law School of San Jose. She is the author of "Surviving Divorce: the Single Father's Guide" and "The Email Deliverability Handbook"

Leave a Reply