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Repossession

If your car was just repossessed and you own a house can you quit claim your interest in the house to the person who owns the other half interest?


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Wiki User
2015-07-16 18:31:42
2015-07-16 18:31:42

I'm guessing that you need to CALL an attorney NOW. Sounds like a collector and/or repoman has been telling you what they think you need to hear. (Blowing Smoke)

No one blowing smoke, just trying to see if one can avoid having a jointly owned house attached to a deficiency judgement?

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if i get my car repossessed, can they put a llien on the house?

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A home can get repossessed in many ways, the most common reason is that they owner of the house has not payed the bank the loan that they took out so as to by the house, or that the person hasn't pay many bills so they take the equivalent of the unpaid bills.

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A lien itself? No. A lien is a claim of ownership. But if someone has filed a lien on a house, he's probably owed money, so penalties, fees and interest would apply there.

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If your partner acquired her interest by virtue of a deed then the answer is no. The only person who can "sign off" their interest in the title to property is the person who own the interest.

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Only a person who legally owns a home can sell it. If you "put someone else's name" on the home, it means you quit claim your interest in the home to them. They then have the right to decide whether or not to sell.


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