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Do you own the property that your name is on the deed but not the loan?
Wiki User
∙ 13y ago
If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.
If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.
If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.
If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoIf your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.
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If your name is on the mortgage but not the deed do you own the property?
No. In order to be the owner of real property you must be named as grantee on the deed. If your name is on the mortgage but not on the deed you have obligated yourself to pay for real property you do not own. If the primary borrower defaults the lender will go after you for full payment of the mortgage yet you do not own the property.
How can you remove a co-borrower from a deed?
By refinancing the loan in your own name.
The mortgage is in your name but your name is not on the deed how do you get your name on the deed?
If you signed the mortgage and note then you promised to pay for property you do not own. By signing, you agreed to be fully responsible for paying the loan if the primary borrower, the owner, doesn't pay. The only way for you to get an ownership interest would be for the owner to convey an interest to you by a deed.
Can a husband take a loan against a house that has wifes name on it also?
All parties on title to the home must sign the loan documents; so, your husband can not do a loan on his own. Some states allow the spouse to sign the note (the debt) but not the deed; that would mean you are on the loan only but not the title; in that case, your husband would be able to encumber the property with another loan in his loan only.
Is it necessary for a mortgage co-signer to also be a co-owner on the deed?
The lender requires that anyone whose name is on the deed also sign the loan and mortgage papers, but a co-signer does not necessarily have to be an owner on the deed. If you do not own the property you must ask yourself who you would promise to pay a mortgage on land you do not own. Keep in mind that if the owner of the property doesn't pay the mortgage you will be held responsible for paying it even though you don't own the property. You need to ask yourself if you want to be in that precarious position. If the owner defaults your credit will be ruined as well.
Your husband owned the property prior to marriage but added your name to the deed. How much do you own?
If you are on the deed to the property you own a one half interest.If you are on the deed to the property you own a one half interest.If you are on the deed to the property you own a one half interest.If you are on the deed to the property you own a one half interest.
What if your name is on the deed but no will?
If your name is on the deed then you own the property as long as the deed is valid and properly recorded in the land records.
If your name is on the mortgage but not the deed do you own the property?
No. In order to be the owner of real property you must be named as grantee on the deed. If your name is on the mortgage but not on the deed you have obligated yourself to pay for real property you do not own. If the primary borrower defaults the lender will go after you for full payment of the mortgage yet you do not own the property.
How can you remove a co-borrower from a deed?
By refinancing the loan in your own name.
The mortgage is in your name but your name is not on the deed how do you get your name on the deed?
If you signed the mortgage and note then you promised to pay for property you do not own. By signing, you agreed to be fully responsible for paying the loan if the primary borrower, the owner, doesn't pay. The only way for you to get an ownership interest would be for the owner to convey an interest to you by a deed.
Your husband owned a house in North Carolina before you were married But after you married he refinaced it the deed is in your name but the loan is not Do you have a legal right to the house?
If your husband refinanced his home and then conveyed it to you then you are the owner of the property subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property. If your name is on the deed as the grantee then you have a right to the use and possession of the property until you convey your interest to someone else by a quitclaim deed. If your name is on the deed WITH your husband then you own a half interest and have the right to the use and possession of the whole property.
Am sole legal owner of property but have joint mortgage with x upon your property who owns the property?
The grantee on the deed is the owner of the property. Co-signing a mortgage when you don't own the property does not give you any right of ownership. You are simply a volunteer who has agreed to pay the loan if the primary borrower defaults.The grantee on the deed is the owner of the property. Co-signing a mortgage when you don't own the property does not give you any right of ownership. You are simply a volunteer who has agreed to pay the loan if the primary borrower defaults.The grantee on the deed is the owner of the property. Co-signing a mortgage when you don't own the property does not give you any right of ownership. You are simply a volunteer who has agreed to pay the loan if the primary borrower defaults.The grantee on the deed is the owner of the property. Co-signing a mortgage when you don't own the property does not give you any right of ownership. You are simply a volunteer who has agreed to pay the loan if the primary borrower defaults.
How can you put a relative on the mortgage without also having them on the deed?
You do need to check with an attorney, but there is probably no reason why you can't. Ownership of the property is established by the deed; you own it whether you owe a million dollars on the mortgage loan, or you own it outright. The mortgage loan is different.
What is rhe Disadvantage of not having your name on deed?
If your name is not on the deed then you are not the owner. If the owner (the person who IS on the deed) dies and has no will then the property will pass to their heirs at law and not to you unless you are a legal heir. No one should ever agree to be on the mortgage and not on the deed. In that arrangement you are agreeing to pay for land you don't own. If the owner doesn't pay then you will be obligated to pay the balance of the loan.
Palindrome for a paper that shows you own property?
"Own a deed? Not a cat? A new not a deed now, a no deed, a catton?"
Could a Living estate over ride a quick deed?
If the owner of property conveys that property by a quitclaim deed while they still own it then they no longer own the property. It is now the property of the grantee in the deed.
You divorced- signed a quit deed and still remained on the mortgage. What happens when the ex-spouse dies?
In that case you would be responsible for paying the loan on property that you do not own. When you signed the quitclaim deed you should have required that the ex-spouse refinance the mortgage in order to take your name off as co-mortgagor. Your attorney should have addressed that issue at the time of the divorce.In that case you would be responsible for paying the loan on property that you do not own. When you signed the quitclaim deed you should have required that the ex-spouse refinance the mortgage in order to take your name off as co-mortgagor. Your attorney should have addressed that issue at the time of the divorce.In that case you would be responsible for paying the loan on property that you do not own. When you signed the quitclaim deed you should have required that the ex-spouse refinance the mortgage in order to take your name off as co-mortgagor. Your attorney should have addressed that issue at the time of the divorce.In that case you would be responsible for paying the loan on property that you do not own. When you signed the quitclaim deed you should have required that the ex-spouse refinance the mortgage in order to take your name off as co-mortgagor. Your attorney should have addressed that issue at the time of the divorce.
