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What are the Legal documents required in order to change the name of the person who has taken laon from a bank by securing a property but the property is now in the name of another person?
Wiki User
∙ 14y ago
The original mortgagor must discuss the situation with the lender. The original mortgagor applied for the loan and was approved by the lender. Most mortgage documents carry a provision that the balance of the loan will be due on any transfer of the property. If the original borrower transferred the title to the property that person is still responsible for paying the loan. The property is subject to the loan and if the loan isn't paid the lender will foreclose and take possession of the property. You may need to consult with an attorney.
Wiki User
∙ 14y ago
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Am I responsible to repay a cosigned mortgage upon default?
If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.
Can you sell your car in another state if you are not present?
Probably, with a notarized power of attorney + other required documents.
Is a property inspection required when a mortgage note is passed sold to another lender?
No.No.No.No.
In Texas drivers are required by law to carry at least in automobile liability insurance for property damage.?
In Texas, Drivers are required to carry minimum liability limits for both property damage and personal injury to another.
What is the definition of the legal term liens?
The legal term liens is a real estate term that means the owner of a property has a charge placed on it in an attempt of the another party trying to securing the debt owed to them.
What are the factors to be considered in the security of records and documents in records management?
The factors to be considered will depend on the type of records and documents. One important factor is the sensitivity of documents, another is their necessity for legal or regulatory compliance purposes. In addition, documents containing confidential information must be handled according to security procedures as required by law.
What does pd insurance stand for?
PD insurance stands for Property Damage. It is a portion of the liability insurance required by most states. This is the part of the policy that will pay for damage that the insured vehicle caused to another person's property, such as a vehicle or some other property.
What is difference between drafting and conveyancing?
conveyancing gives more stree on documentation much concerned with the transfer of property from one person to another where as drafting gives to preparation of drafing of documents
Do most offices have document scanners?
Yes, most offices have document scanners because many companies will need scan the documents so that they can use it another time. Although document scanners are not required, it is recommended. It is an excellent way to keep a backup copy of all documents.
Does text documents can only be revised by the program in which they are created?
Not all documents. Some documents you can right-click and 'open with' another program such as Notepad.
What is another thing like word documents?
Open Office Documents, Wordperfect Documents, Write Documents, RTF files. Depending on the context, if you mean like as in proprietary or made by Microsoft, this could be Excel Documents.
What is another word for a property losing its value?
property devaluation
