Co-owned home: What if the mortgage is only in one owner's name?

Key facts

• A homeowner co-owns a property with her sister.
• The mortgage for the co-owned property is only in the sister's name.
• The homeowner's son, daughter-in-law, and granddaughter reside in the home.
• The son's family manages utilities, yardwork, and maintenance.
• The homeowner is concerned about potential issues arising from the mortgage being solely in her sister's name.

A homeowner is seeking advice regarding a property she co-owns with her sister. A significant complication is that the mortgage for the property is exclusively in the sister's name. The homeowner's son, his wife, and their daughter currently reside in the house, taking responsibility for utilities, yardwork, and general maintenance. The homeowner's primary concern revolves around the potential legal and financial ramifications that could arise due to the mortgage being solely in her sister's name, especially in scenarios involving the sister's death or other unforeseen circumstances.