Thanks for the replies...I guess I should be more clear....
Grandma is still alive but she is very old so the children are trying to figure out what lies ahead.
There are three kids - Grandma is on the deed with Kid A as a joint tenant with rights of survivorship.
However, Kid A never signed a note with the bank obligating her on the loan. She did sign the mortgage, meaning she agreed to pledge her interest in the property for the note - but she is not liable on the loan itself.
Kid A doesn't want the house in the event Grandma dies. She will happily give it to the bank. But there is a small amount of equity in the home, so Kid A is curious as to whether that equity goes to her since she is the joint owner and would be the sole owner when Grandma dies - or will that equity go to Grandma's estate since Grandma was the only one on the note at the bank.
I hope this clears it up. I was confused in the beginning because I did not know a bank would just make a note with Grandma and not both owners. However, I checked all the documents and this is the case.
Kid A is on the deed as JTWROS
Kid A is on the mortgage pledging her interest for Grandma's note.
But Kid A didn't sign a note, only the Grandma. So Kid A isn't liable for the $$$, except to the extent of her interest in the home.
Thanks for all the replies.