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If you have signed a quit claim deed as the grantor is there any way to force the grantee to refinance the mortgage loan to remove your name from the monitary obligation?
Wiki User
∙ 15y ago
Unfortunately, if you've signed your rights away you are only removed from title and are still obligated to the mortgage. The only way to get out of the mortgage is for the person holding title to refi and have your name removed from the mortgage.
Wiki User
∙ 15y ago
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Who is the Grantor on a mortgage loan?
The borrower is the grantor, the lender is the grantee.
Does a quitclaim deed transfer mortgage payments to the Grantee?
Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.
If your name is on the mortgage but not the deed do you own the property?
No. In order to be the owner of real property you must be named as grantee on the deed. If your name is on the mortgage but not on the deed you have obligated yourself to pay for real property you do not own. If the primary borrower defaults the lender will go after you for full payment of the mortgage yet you do not own the property.
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 do you call a recipient in a grant?
grantee
Who is the Grantor on a mortgage loan?
The borrower is the grantor, the lender is the grantee.
In NJ can you be on the deed but not on the mortgage?
Yes, it's possible to be a grantee on the deed and not listed on the mortgage. All owners of the property are supposed to sign and be listed on the mortgage, but this doesn't always happen. During the refinance frenzy a few years ago, some lenders gave out mortgages to only one owner. If that is the case and there is a default on the mortgage, the lender can only foreclose on the interest of the person who actually signed the mortgage. See related question link.
What do you do when a person dies owing a mortgage and he conveyed the property before he died to someone who is not on the mortgage?
The property is still subject to the mortgage. The grantee should make arrangements with the bank to assume the mortgage. Some mortgage documents contain language that a transfer of the property will trigger a demand that the mortgage be paid in full. You should speak to the bank ASAP. Or, the grantee could just keep paying the mortgage.
Does the Deed holder on a home have full ownership even if their name is not on the mortgage?
The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.The grantee in the deed is the owner of the property. A person who does not own the property can agree to sign the mortgage and be responsible for paying for the property. That does not give them an ownership interest.
Does a quitclaim deed transfer mortgage payments to the Grantee?
Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.Absolutely not. The property remains subject to the mortgage and the person who signed the mortgage remains responsible for paying the loan. You should review the documents you signed when you granted the mortgage. The lender usually includes a clause stating that in the event of any transfer of interest in the property the full amount owed is due immediately. If the grantee wishes to assume the mortgage that must be done with the written consent of the lender and the written guarantee of the grantee.
How do you satisfy reversionary clause?
A reversionary clause provides that the grantee must fulfill some obligation or restriction or the property reverts back to the former owner. To 'satisfy' the reversionary clause you fulfill the obligation
3 people have right of survivorship and one quitclaimed their interest to a new party Is this new co-owner responsible for that persons part of the mortgage?
If the joint owner who conveyed her interest was paying a third of the mortgage then her grantee would also be responsible for paying that share. The grantee in the quitclaim deed is a tenant in common with the other two joint tenants.
Am sole legal owner of property but have joint mortgage with x upon your property who owns the property?
The grantee on the deed is the owner of the property. Co-signing a mortgage when you don't own the property does not give you any right of ownership. You are simply a volunteer who has agreed to pay the loan if the primary borrower defaults.The grantee on the deed is the owner of the property. Co-signing a mortgage when you don't own the property does not give you any right of ownership. You are simply a volunteer who has agreed to pay the loan if the primary borrower defaults.The grantee on the deed is the owner of the property. Co-signing a mortgage when you don't own the property does not give you any right of ownership. You are simply a volunteer who has agreed to pay the loan if the primary borrower defaults.The grantee on the deed is the owner of the property. Co-signing a mortgage when you don't own the property does not give you any right of ownership. You are simply a volunteer who has agreed to pay the loan if the primary borrower defaults.
Who owns a property the title holder or the person who paid the purchase price?
The grantee on the deed is the owner of the property. The grantee(s) on the deed is the person who holds title to the property. If the person who provided the cash to purchase the property wants an interest in the property they must be named as a grantee on the deed or they must have the owner execute a mortgage naming them as the mortgagee that will be recorded in the land records.
Should you have access to the house if your name is on the mortgage?
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.
If your name is on the mortgage but not the deed do you own the property?
No. In order to be the owner of real property you must be named as grantee on the deed. If your name is on the mortgage but not on the deed you have obligated yourself to pay for real property you do not own. If the primary borrower defaults the lender will go after you for full payment of the mortgage yet you do not own the property.
Can you refinance a mortgage in California with only one owner on the new mortgage if it is a legal same-sex marriage so both would now be legally owners?
The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.The following is general information only. It depends on who is listed as a grantee on the deed. If the property was acquired by only one then they must sign the note and mortgage. California is a community property state so it is likely in that case that the lender would require that the other spouse sign their consent to the mortgage so it can take possession of the property in the case of a default.If both are on the deed then both must sign the note and mortgage.
