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That person must convey their interest by a deed.
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∙ 16y ago
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What happens if the mortgage and deed are in two names and one claims banckrupcy?
What happens if the mortgage and deed are in two names and one claims banckrupcy
What if 3 names are on a deed one person dies and the person that dies has left her part to her aires then what can be done?
What if 3 names are on a deed one person dies and the person that dies has left her part to her aires and the dead has no deed then what can be done?
Can a lien be put on a property deed if the deed has several different names?
Yes. The lien can be recorded against any one property owner's interest.
How do you split closing costs when ownership interest is divided?
The costs should be divided according to the interests acquired by the deed. If no particular scheme of interest is mentioned in the deed then the co-owners each own an equal interest. For example:If there are three on the deed then they each own a third then each should pay one-third of the closing costs and receive one-third of the net proceeds.If there are three on the deed and the deed states one shall own a one-half interest and the other two shall each own a one-quarter interest then the net proceeds and closing costs should be split accordingly.The costs should be divided according to the interests acquired by the deed. If no particular scheme of interest is mentioned in the deed then the co-owners each own an equal interest. For example: If there are three on the deed then they each own a third then each should pay one-third of the closing costs and receive one-third of the net proceeds.If there are three on the deed and the deed states one shall own a one-half interest and the other two shall each own a one-quarter interest then the net proceeds and closing costs should be split accordingly.The costs should be divided according to the interests acquired by the deed. If no particular scheme of interest is mentioned in the deed then the co-owners each own an equal interest. For example: If there are three on the deed then they each own a third then each should pay one-third of the closing costs and receive one-third of the net proceeds.If there are three on the deed and the deed states one shall own a one-half interest and the other two shall each own a one-quarter interest then the net proceeds and closing costs should be split accordingly.The costs should be divided according to the interests acquired by the deed. If no particular scheme of interest is mentioned in the deed then the co-owners each own an equal interest. For example: If there are three on the deed then they each own a third then each should pay one-third of the closing costs and receive one-third of the net proceeds.If there are three on the deed and the deed states one shall own a one-half interest and the other two shall each own a one-quarter interest then the net proceeds and closing costs should be split accordingly.
How much power does a person have if they are on the deed to a house?
Any grantee on a deed has the right to the full use and possession of the property and any profits therefrom, even if there are multiple owners. The property cannot be sold without their written consent and they are entitled to a part of the net proceeds proportionate to their interest in the property. If there are three names on the deed each will receive one third.
While separated can one spouse refinance a mortgage without the other as long as both their names are on the deed?
The original deed of trust contains the names of both husband and wife. This is a Joint Tenancy Deed ... no changes can be made without the consent of both parties, and that includes refinancing. One or the other spouses will need to "buy out" the other's interest and gain sole ownership before attempting this.
What rights does a person have with three names on a deed?
If you acquired property by a deed with two other people, and no special proportionate interests were mentioned, you each have the right to the use and possession of the whole property. If you sell your interest your grantee would receive a one-third interest. If the property is sold each co-owner will receive one-third of the net proceeds.
How do you you change the names on the deed of your house?
Changing names on deeds typically happens for one of several reasons including legal name changes, death, convenience or conveyance. If there is a mortgage, you will need permission from the lender. Any new deed with changed names changes ownership. The people currently named on the deed (grantor) will execute a new deed to the newly named people (grantee). The grantee(s) on the new deed are the new owners. Deeds should always be drafted by a professional. Errors made by non-professionals can be costly to correct it they can be corrected. As soon as a new deed is executed it should be recorded in the land records.
Is the deed valid if one of the grantees is dead when the deed is created and recorded?
A deed must be signed by the parties to the deed. If one of them was dead when the deed was created, then they could not have signed the document!
If a property is held in tenancy in common and they divorce how is that effected?
One way to remove one or the other person off the deed of trust, is to refinance the loan.
If a title is in 4 names and the property is sold to one of the four what is the process to change title to one owner?
Each of the other three would sign a Quitclaim Deed assigning title to the fourth person--it will have to state the name of the new title owner (ie Joe Smith, a single man) and then go through a Title Company to record the new deed along with that. If the fourth person is refinancing the loan, then your lender will help manage the switch of names on the title at that time.
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.
