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Do you lose your interest in a inherited house if you sign off on the deed?
Wiki User
∙ 15y ago
Yes. That is the purpose of a deed: to transfer your interest in real property to a new owner.
Wiki User
∙ 15y ago
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My wife and my name are on the mortgage deed for our house and there is a lien on my name can i do a quit claim deed transfer to get my name off and therefore the lien not able to follow the house?
I assume you mean you are both on the deed to your property. Don't quitclaim your interest unless you speak to a lawyer. You may create more trouble for yourself. If the debt was for goods or services that benefitted both of you the creditor might still have a claim. It may be found to be a fraudulant conveyance to avoid a creditor. If you convey your interest you would lose any protection you may have under a tenancy by the entirety.
What to do if you lose your house deed?
If it was properly recorded in the land records you can obtain a copy at the land records office in your jurisdiction. If it was never recorded you are out of luck.
What happens if it is found that the warranty deed was signed by someone who was incompetent to make such a decision Could I lose my house property?
Yes. If a court later decides an individual was under diminished capacity when they signed a deed the conveyance will be voided.
What is the advantage of having you name on deed but not resposible for mortgage?
if you acquired your interest be deed after the mortgage was granted:You are not responsible for the payment of the mortgage and default will not affect your credit record. However, if the mortgagor defaults on the mortgage the bank can take possession of the property by foreclosure and you will lose your interest as well.If you acquired your interest before the mortgage was granted but didn't sign the mortgage:You are not responsible for the payment of the mortgage and default will not affect your credit record. In the case of a default the bank can only foreclose on the half interest of the co-owner who signed the mortgage.
What do you do if you lose the original deed to your house and other copy is in your dead parents name?
Obtain a copy from the office where land records are filed. If the deed was recorded you don't need the original. If you didn't record the deed then you have a big problem. If the record title is still in your deceased parents' names then you will need to file a probate petition to acquire legal title.
Can a quit claim deed be signed over to someone with a poor credit record?
yes. you can quit claim to anybody you want. you lose all interest in that property. however, you may still owe on it even if you have given it away.
When selling your house do you have to keep making house payments?
Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.
Can dolphins lose interest?
no because they can't lose intrest.
If a sibling fails to contribute their share of the property taxes on an inherited property can they lose their interest in the property?
If a sibling fails to contribute to property taxes on an inherited property, they may not automatically lose their interest in the property. However, it can lead to conflict with other co-owners and potential legal actions to resolve the issue. It's recommended to address these matters through communication, negotiation, or legal intervention if necessary.
Does the wife have rights to the property if she leaves the property?
If she is on the deed- yes. If it is marital property- yes. In a community property state- yes. A person doesn't lose their rights or interest in real estate by leaving. Divorce may change the status.
If your name is only on the deed do you need to pay the mortgage?
If the person who has an ownership interest in real property does not sign on or guarantee the note, then that person is not liable to pay the note. However, the lender could still foreclose on the property & the person could then lose his/her ownership of that property.
What is insurable interest?
The purpose of insurance is to pay you when you lose something, to help you recover from that loss. For example, if your house burns down, fire insurance can pay for a new house. Or car insurance will pay for a new car if you get into an accident. The term "insurable interest" refers to the thing you are worried about losing, the car or the house. You can't get insurance in cases where you have no insurable interest. For example, I can't get car insurance on my neighbor's car. If they have an accident, I didn't lose anything, so why should I get an insurance payout? Letting people have insurance when they have no insurable interest causes problems, for example intentionally damaging their neighbor's car.
