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Does a person who has a mortgage on a house have legal title to the property?
Geokef
No. If you are on the mortgage but not on the deed then you agreed to pay for someone else's property for some reason. Being only on the mortgage doesn't give you any interest in the real estate.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoGenerally yes but not necessarily. The person who is the grantee on the deed has legal title to the property. It has become common for people who are not on the title to co-sign mortgages. Co-signing gives you no interest in the property if you're not a grantee on the deed.
Wiki User
∙ 11y agoNo. You are simply a volunteer. Your name must be on the deed in order to have any "claim" to the property.
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If the deed of the house is in your husbands and your name and you are paying the original owners mortgage what are your legal rights to the home?
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.
You and your boyfriend are buying a house and he wants only his name on the loan and deed. You're both to pay the mortgage. When you sell the property how will you get half of the equity?
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.
What is a property conveyance?
In law, a property conveyance is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or an easement right in land.In law, a property conveyance is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or an easement right in land.In law, a property conveyance is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or an easement right in land.In law, a property conveyance is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or an easement right in land.
What is a mortgage lien?
Mortgage Lien - Is a legal claim against a mortgaged property that must be paid or assumed when the property is sold. The person who has the lien on the property can claim the property if the loan defaults. The mortage lien typically belongs to the lender in order to secure the mortgage loan.
Can a person discharged from chapter 7 bankruptcy purchase real property after discharge?
Unlikely, because no lender will give the person a mortgage. There is no legal barrier to buying real property if the person can get the funding.
What does it mean to hold paper on a house?
To "hold paper" on a house means to hold a mortgage or loan on the property. Essentially, it refers to the legal ownership of the property by the lender until the borrower pays off the loan.
What relief can the mortgagee receive if 2 names on the deed but only one signed the mortgage and the person not on the mortgage moved out and left the expense to the one whose name is on the mortgage?
Regardless of whose name is on the mortgage the property legally belongs to the person or persons named on the deed. The mortgage is only a financial obligation, the deed is a legal ownership document. Of course, if the mortgage is not paid the mortgagor can file a foreclosure action against the property.
Who has to leave the house when a legal separation is taking place and who is responsible for paying the mortgage?
You can be separated and still live in the same house. No one has to move.The mortgage payment is made by the person whos name is on the mortgage. If it is in both names you are both responsible.
Who owns the house with mortgage and deed in different names?
The legal owner is the name(s) on the deed. The names on the mortage note are the ones responsible for the loan. However, sometimes the owner/mortgagor complicates the title to the property by selling it after they have granted a mortgage to a bank. In that case, the bank has a senior interest in the property. The grantee on the deed owns the property subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property by foreclosure.
What happens to a house if the wife's name is not on the deed but is on the mortgage and the husband dies with debt?
This is a difficult legal situation. First, the wife must ask herself why she signed a mortgage for property she didn't own. The husband's estate must be probated in order for legal title to the real estate to pass to his heirs. His will or the state laws of intestacy will determine if the wife inherits the property or only an interest in the property. However, even if the wife does not inherit 100% of the interest in the property she is 100% responsible for paying the mortgage. If the mortgage isn't paid the bank will take the property by foreclosure.
How do you find out who holds the mortgage on a house?
Unless you are one of the people or agencies allowed to know that you can't. If you are a person or agency that is allowed to know that you know how to find out. If you have a legal claim against the property or owner you r lawyer will be able to access that information.
Is buying a property that is subject to a mortgage legal?
The bank must be notified of the sale and it is up to the bank whether the mortgage can be assumed by the buyer.
