Cincinnati, OH asked in Estate Planning, Family Law, Real Estate Law and Elder Law for Ohio

Q: Home Equity Line of Credit -- Will I be responsible?

Years ago the bank made me a co-owner (joint checking account) of my mother's checking account. I wanted to just be POA to help pay her bills, but they made me a joint owner instead. She has a $55,000 line of credit on her home that she will never pay off. She is under hospice care and pretty much has no assets. The line of credit is attached to her checking account with automatic monthly payments (interest only). Both her checking account and the line of credit is from the same bank. My name has never been on the deed to her house and my name is not on the equity line of credit. But since this is all attached to the joint checking account, will I personally be held liable to pay this off when she dies? I know they will go after her (valueless) estate, but can they also go after me? If so, is there anything I can do to avoid this?

1 Lawyer Answer
Moshe Toron
Moshe Toron
  • Estate Planning Lawyer
  • Cincinnati, OH
  • Licensed in Ohio

A: They will foreclose on the house to get paid.

They can't go after you personally.

Raquel Ann Parish and Nicholas P. Weiss agree with this answer

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