He owns an interest in the property but he is not responsible for paying for it. He got a great deal. If the property is sold he will be entitled to half the proceeds after the mortgage is paid off.
No rights.
Yes, but if your name was added to a deed after the owner granted the mortgage your interest is subject to the mortgage. If the mortgage isn't paid the lender will take possession by foreclosure and your interest will be wiped out.If the mortgage is paid and the house is sold you will receive half of the proceeds at the time of sale.
The ONLY reason a person would request that you not be on the deed and mortgage would be to INSURE that you would have no legal right to the property. If he expects you to help pay the mortgage you would be paying for property you do not own. You and your boyfriend are not buying a house. Your boyfriend is buying a house and he wants you to help him pay for it. You would be entitled to nothing when the property is sold.
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.
The answer depends on the laws in your particular jurisdiction and when the property was purchased.
my family and I live together however my brother and I are on the mortgage and listed as owners as the dual owners. we have added two family members on the homestead we have all paid on the mortgage and house bills. what rights do the other siblings have to the house?
No. For access you must be a grantee on the deed. If you are an owner by deed you have the right to the full use and possession of the property. If you only signed the mortgage then you have agreed to pay for property you do not own. You have no other rights in the property.
house documents are mortgage and title deed at register office
What does life rights mean on a deed.
Yes, the husband can rent the house if he has the Mortgage in his name but the Deed of Trust is shared.
Yes. But the deed and mortgage would have to be in her name. It would not be your property.Yes. But the deed and mortgage would have to be in her name. It would not be your property.Yes. But the deed and mortgage would have to be in her name. It would not be your property.Yes. But the deed and mortgage would have to be in her name. It would not be your property.
You and your husband are the legal owners of the property but it is subject to the mortgage. If you default on the mortgage payments the bank can take possession of the property by foreclosure.