Family Loan for Down Payment on rental property

[Horacio Gutierrez]

Hello,

I'm planing to borrow money from my cousin for a down payment on a rental property, and the rest of the money will be come from a bank.  My concern is that if something happened to my wife and I, my cousin would not get his money back because my collateral from the rental property would go to the bank. I don't want to be put his name on the title of the home but I also would not want him to loose his principal if my wife and I suddenly passed away. Is there anyway where my cousin could automatically stay with the home beside the bank and decide if he wants to keep renting or sell it if we died and the title of the home and loan gets transferred to his name?

Thanks,