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If parents make a down payment on a home and a daughter who will not live there takes a mortgage for the remainder how should the deed be arranged?
Wiki User
∙ 8y ago
It all depends, 1) the daughter can deed on title by herself or 2)the parents can deed on title with the daughter.
If your asking how vesting should read on the security deed, you need to consult a cpa or tax advisor for that. Your loan officer should be able to give you a list from the title rep that gives the breakdown for vesting for the specific state your in.
this is just an ex. how some vesting would look with your scenario: 1) Sabrina, a single woman as her sole and separate property or 2)Fred and Wilma,husband and wife and Sabrina, a single woman, all as joint tenants. These are only examples, please consult a cpa.
Thanks
Wiki User
∙ 8y ago
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Should your parents have you on the title of their house to avoid forced sale?
If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.
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.
Are adult children liable for parents mortgage debt?
No, not as long as they didn't co-sign the mortgage. However, if the parents have died and their property is subject to a mortgage the lender will foreclose on the property if the mortgage isn't paid. If the heirs want to keep or sell the property they must keep the mortgage payments current.
Can siblings take over late parents mortgage?
It is not likely to be allowed. The mortgage was an agreement between the parents and the bank. The bank may consider redoing the load with the new owners on it, but they don't have to.
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.
What happens in arranged marriages in Islam?
in arranged marraiges the parents of the daughter or son give them pictures of the people they think are right 4 them. then the son or daughter picks one and then they get engaged then they get married and make love which is have sex and then they have children unless there wearing a condom
Should your parents have you on the title of their house to avoid forced sale?
If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.
Will you pay if you live with the your parents before they die an you are the only child in their will to take the house?
You may be responsible for the remainder of their mortgage and taxes on the value of the house. If you have siblings and your parents are elderly, they might want to make other arrangements, such as a trust, refinancing to add you to the mortgage and so on ahead of time. It is best for your parents to get legal advice before deciding what to do, as well as letting the rest of the family know their plans.
What is the courtship in China?
There is no such thing as courtship in China. Marriages in China are arranged by the parents. Where the heck did you get that? They date and court same as us in the West. My wife and daughter are from china, so I am not guessing!
What is successfull in an arranged marriage?
yes, arranged marriage is successfull bcoz in arranged marriage we get bless from our parents, if any problem create in our marred life then our parents help to solve this problem and save this relationship.
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.
Why was Saint Monica forced to marry?
At the time arranged marriages were common. Parents arranged spouses for their children.
Are adult children liable for parents mortgage debt?
No, not as long as they didn't co-sign the mortgage. However, if the parents have died and their property is subject to a mortgage the lender will foreclose on the property if the mortgage isn't paid. If the heirs want to keep or sell the property they must keep the mortgage payments current.
Can your daughter get married on virtual familys?
Your daughter can get married after the parents die......but during the time when the daughter is still in her parents house she can not.
What is the difference between love and arranged marriage?
Answerin arranaged marriage parents wants to choose someone for their son/daughter to married and they may not love or have any feelings for that person but in love marriage the parents son/daughter they will love n care for the person they choose for themselves an will want to cherish that person for life.
Who traditionally arranged Chinese marriages?
The old Chinese custom (it can still be implemented today) is the parents (the father generally has the say) to arrange a marriage between a son and a bride chosen for him or a daughter with a husband chosen for her that they deem suitable, profitable to ensure happiness. Depending on the financial status of the Chinese parents often a dowry is given when they present their daughter for marriage.
How do couples meet in Buddhism?
By arranged marriage or just who you pick I guess. Because my parents are Buddhism and they were arranged by my grandparents.
