0
House left in trust to children no mortgage can money be released on this property?
Wiki User
∙ 13y ago
quite simply no i live in a house left in trust to me and it would be like getting blood out of a stone plus have a bit of respect for the relatives wishes for a stable roof over your head or the childrens
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Can i find out if there is a mortgage on an estate?
Check the deed at the court house. There will be a lien against the property if their is a mortgage.
Can the mortgage company take your house without the deed?
By definition a mortgage is secured on the deeds of the house. They will have the deed (or officially have their name legally registered for the property) if they have given you a mortgage.
If your parents took out a mortgage in their name how do you get a mortgage in your name for the same property?
A property cannot be mortgaged twice at once. Additionally, you must hold the title to the property to place it under mortgage. Unless the other mortgage is paid off and your parents give you the house, you will not be able to get a mortgage on it.
Your parents died leaving a mortgage on the heir property are the heirs obligated to pay the balance of the mortgage?
Yes. If you inherit a piece of property, including a house with a mortgage, you are legally obligated to pay its bills.
Can you get a joint mortgage with your grandparent and what happens if she dies can i keep the house and mortgage?
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
Intend to give a house to your children and place their name on the ownership you wish to place a lien on it to prevent anyone else being able to possess it in foreclosure?
Your idea won't work if your children ever grant a mortgage on the property. If you convey your property to your children and they grant a mortgage at some future time, the lender would insist on a clear title in case of a default and foreclosure. If you had arranged to have a recorded lien on the property the lender would require that it be released before they would approve a mortgage. The only way for you to insure the property won't be taken by foreclosure is to not allow your children to mortgage it. That could be accomplished by your reserving a life estate. They couldn't mortgage the property without your signature.
What would happen if you lives with your mother who dies with an unpaid mortgage and your name not on the loan or deed?
Children will normally inherit their parents' property, which will include the equity in a house, even if the mortgage is not fully paid.
Can i find out if there is a mortgage on an estate?
Check the deed at the court house. There will be a lien against the property if their is a mortgage.
Can the mortgage company take your house without the deed?
By definition a mortgage is secured on the deeds of the house. They will have the deed (or officially have their name legally registered for the property) if they have given you a mortgage.
If your parents took out a mortgage in their name how do you get a mortgage in your name for the same property?
A property cannot be mortgaged twice at once. Additionally, you must hold the title to the property to place it under mortgage. Unless the other mortgage is paid off and your parents give you the house, you will not be able to get a mortgage on it.
Your parents died leaving a mortgage on the heir property are the heirs obligated to pay the balance of the mortgage?
Yes. If you inherit a piece of property, including a house with a mortgage, you are legally obligated to pay its bills.
Can you get a joint mortgage with your grandparent and what happens if she dies can i keep the house and mortgage?
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
Can a house be considered community property, if there is only one Name on the mortgage?
If you are married in a community property state, then yes, it is a community property. The mortgage is irrelevant - it is whose name on the deed that determines ownership.
Your name is on a quit claim deed but the mortgage is in another person name can the bank take your house?
Whoever granted the mortgage to the bank must have owned the property at that time. If they later conveyed the property to a new owner they breached their mortgage agreement with the bank and the new owner took the property subject to the mortgage. The bank can take possession of the property if the mortgage isn't paid.
You are on the deed but not the mortgage. Can you pay the mortgage without being on the mortgage if you want to keep the house?
You can make mortgage payments if you're not on the mortgage. However, you would be a volunteer and paying the mortgage in and of itself wouldn't give you any interest in the property. You would be paying for someone else's property.However, if your name was added to the property after the mortgage was granted you would be protecting your interest in the property by making certain the mortgage is paid on time.
I want to know if Freedom House is for prison inmates that are about to be released?
Speaking with your mortgage company or a tax prefessional would be your best start for reducing your property taxes.
What happens to the mortgage on a house if the house is deeded to a new owner?
The property cannot be conveyed without the permission of the mortgage holder, who will most likely insist that the mortgage be paid off first. In other words, this is kind of a non-question, since it describes a situation that can't legally happen.If the mortgage holder dies, the house becomes part of the estate, and the heirs would have to work it out with the mortgage company.AnswerIf the owner executes a deed the property would transfer subject to the mortgage. Transferring the property cannot defeat the mortgagees interest in the property. Also, mortgages contain a due on transfer clause. That means if the property is transferred the lender will require payment in full of the mortgage.
