This is a very unique situation I am facing here. Several years ago, my cousin decided to buy a rental property. It's a larger multi-family in NYC. Since his income was high enough, he needed someone else on the deed/mortgage. My grandmother decided to go on the house with him. So they each own 50% of the house. However, my cousin was sentenced to over 20 years in jail last month. Now, we have someone at the property managing it and collects the rents. My grandmother, however, is getting old and probably won't be around for too much longer. In her will, I am supposed to receive her portion of the house. Will this affect the mortgage? They still owe ~$300,000 on the house. Or can we just continue paying the mortgage with the rents so the mortgage company doesn't worry about us defaulting
Added (1). I'm really just concerned about her naming coming off and having mine replace it. I'm afraid that the mortgage companies would, say, demand the mortgage to be paid off.
Read more: How will I handle this inherited property?
