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You need to go and see an attorney (solicitor) about this (in many cases a mortgage is covered by life insurance that pays it off - or indeed the property may be an asset in the persons will and may have to be sold!) You can keep sending in the checks, but when the lender finds out that the mortagor is diseased, they will call the note to be repaid in full. Get to an attorney quickly and get this sorted out.

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โˆ™ 2008-11-07 18:50:40
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Q: Can surviving joint tenant on coop lease continue to pay mortgage if her name is not on the mortgage agreement?
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Related Questions

What is suborination and non disturbance agreement?

The correct term is "subordination". This is an agreement signed by a tenant and landlord of commercial property which is a recognition on the part of the tenant that the lease is subordinate to any mortgage which the landlord has or may in the future place on the property. Lenders sometimes want this so that the tenant recognizes that the lease does not have priority over a mortgage granted by the lender. The non disturbance agreement generally signed by the lender and/or landlord which indicates that so long as the tenant is not in default of the lease, the possession of the tenant will not be "disturbed" or in other words, the tenant will be allowed to remain in the premises even if the landlord should be in default of the mortgage.


Can the heirs of a life tenant be reimbursed for the payment of mortgage and property taxes made by the life tenant?

Absent an agreement between the now-deceased person & the heirs, typically not.


What is the difference between a mortgage and a lease?

A mortgage is a loan used to purchase real property.A lease is an agreement signed by an owner and a tenant that allows the tenant to use real property for a fixed period and a fixed amount of monthly rent: residential and commercial.


Can you get a mortgage on land that is subject to a life estate?

Yes but the life tenant must consent in writing by signing the mortgage.Yes but the life tenant must consent in writing by signing the mortgage.Yes but the life tenant must consent in writing by signing the mortgage.Yes but the life tenant must consent in writing by signing the mortgage.


Can a will supercede a survivorship deed?

No. Property held as joint tenants passes automatically to the surviving joint tenant upon the death of the other. It cannot be left by will unless the testator is the last surviving joint tenant.No. Property held as joint tenants passes automatically to the surviving joint tenant upon the death of the other. It cannot be left by will unless the testator is the last surviving joint tenant.No. Property held as joint tenants passes automatically to the surviving joint tenant upon the death of the other. It cannot be left by will unless the testator is the last surviving joint tenant.No. Property held as joint tenants passes automatically to the surviving joint tenant upon the death of the other. It cannot be left by will unless the testator is the last surviving joint tenant.


How can landlord hold mortgage to tenant?

A landlord only collects rent from a tenant, not mortgage payments. If the landlord then holds a mortgage for the tenant, then they are no longer a landlord, rather, a mortgage holder, like a financial institution. There are many cases where the tenant has an option to buy the home, and many terms are discussed and agreed thereto. Landlords can turn into mortgage holders. Landlords can evict, but mortgage holders can foreclose-- two different types of court proceedings.


Is the owner or the tenant responsible for illegal activity?

If the tenant has a rental agreement with the owner, the tenant is responsible.


Is Joint Tenant the same as right of survivorship?

Generally a joint tenant has a right of survivorship in the property. That means if the other joint tenant dies their interest in the real estate passes automatically to the surviving joint tenant with no need of probate.Generally a joint tenant has a right of survivorship in the property. That means if the other joint tenant dies their interest in the real estate passes automatically to the surviving joint tenant with no need of probate.Generally a joint tenant has a right of survivorship in the property. That means if the other joint tenant dies their interest in the real estate passes automatically to the surviving joint tenant with no need of probate.Generally a joint tenant has a right of survivorship in the property. That means if the other joint tenant dies their interest in the real estate passes automatically to the surviving joint tenant with no need of probate.


Does a tenant have to sign a rental agreement?

For the rental lease agreement to be valid in the United States court of law it has to be signed by the Landlord and Tenant.


What happens if your tenant breaks the mediation agreement how soon can they get evicted?

This depends on the mediation agreement, which often has a clause that states that a tenant can be evicted automatically if he doesn't follow the rules on the agreement.


Can one joint tenant with right of survivorship get a mortgage on the property?

Yes. If the lender agrees. Only a half interest could be included in the mortgage.However, an experienced lender would want all the owners to sign the mortgage in case there is a default. If only one owner signed the mortgage, the lender could only foreclose on that person's half interest. It would become a tenant in common with the co-owner. That half interest would be difficult to sell. In some states, if the mortgagor died their interest in the property would disappear and the surviving joint tenant would own the property free of the bank's mortgage.


Where can i find Free templates of prove of residence of a tenant?

Proof of residence for a tenant would be a copy of the lease, or landlord tenant agreement. Any type of written agreement will suffice as a proof of residence.


What is a Nondisturbance Clause in a commercial lease?

The nondisturbance clause, when properly worded, ensures that the rental agreement between the tenant and the landlord will continue under any circumstances, including mortgage default or the sale of the property. This is done primarily to protect the renter from eviction by the mortgagor if the property is foreclosed upon. A nondisturbance clause ensures that a tenant will not be evicted in the event that the landlord goes bankrupt or sells to a new owner.


Does a tenant have to pay rent if the landlord is defaulting on the Mortgage?

Absolutely. The landlord's relationship with the bank has noting to do with the tenant.


What is a tenant?

A tenant is someone who lives in a property in an agreement that they pay rent the property or room from a landlord.


What does tenant mean?

A tenant is someone living on a property. They are usually a party to a lease or rental agreement.


Who should sign the tenancy agreement first tenant or landlord?

Normally the tenant signs it first.


Can you specify in a will that property held as joint tenant with right of survivor-ship is bequeathed to a beneficiary in the Commonwealth of California?

No. Property held as a joint tenant with the right of survivorship is not part of your estate when you die. Absolute ownership passes directly to the surviving joint tenant at the moment of your death.No. Property held as a joint tenant with the right of survivorship is not part of your estate when you die. Absolute ownership passes directly to the surviving joint tenant at the moment of your death.No. Property held as a joint tenant with the right of survivorship is not part of your estate when you die. Absolute ownership passes directly to the surviving joint tenant at the moment of your death.No. Property held as a joint tenant with the right of survivorship is not part of your estate when you die. Absolute ownership passes directly to the surviving joint tenant at the moment of your death.


Can you evict a tenant where there is no rental agreement?

Yes, but you will have to follow the same eviction steps as if you did have an agreement.


How long does the manager have to sign a new lease on a hud tenant?

It is presumed that when you refer to a HUD tenant, you are referring to a tenant who has a voucher under the Housing Choice Voucher Program, commonly known as section 8. After the first year of leasing, any kind of contractual agreement, verbal or written, can continue.


Who owns property after last surviving joint tenant on the deed dies?

When the last surviving joint tenant dies the property passes to the heirs-at-law of that person if she died intestate or to her named devisees if she had a will. The last surviving joint tenant is the sole owner of the property. In order for legal title to pass to the heirs or devisees the estate must be probated.


Does a lease agreement have to be signed by the owner and tenant?

yes !


What is the definition of a lease agreement form?

A lease agreement is a contract that is set up between a landlord and the tenant with rights and obligations in regards to a property which the ladlord rents to the tenant.


What is leasehold mortgage?

A leasehold mortgage is an encumbrance on a tenant's interest in a lease conveyed to a lender as collateral for a loan to the tenant.


Can you inherit from a survivorship deed?

No. Property owned by virtue of a survivorship deed passes automatically to the surviving joint tenant on the deed, bypassing probate. Upon the death of that surviving joint tenant, the property would pass to their estate and would be distributed under the terms if their will or according to the state laws of intestacy if there is no will.No. Property owned by virtue of a survivorship deed passes automatically to the surviving joint tenant on the deed, bypassing probate. Upon the death of that surviving joint tenant, the property would pass to their estate and would be distributed under the terms if their will or according to the state laws of intestacy if there is no will.No. Property owned by virtue of a survivorship deed passes automatically to the surviving joint tenant on the deed, bypassing probate. Upon the death of that surviving joint tenant, the property would pass to their estate and would be distributed under the terms if their will or according to the state laws of intestacy if there is no will.No. Property owned by virtue of a survivorship deed passes automatically to the surviving joint tenant on the deed, bypassing probate. Upon the death of that surviving joint tenant, the property would pass to their estate and would be distributed under the terms if their will or according to the state laws of intestacy if there is no will.