answersLogoWhite

0


Best Answer

The mortgage will be paid off from the proceeds of the sale. The buyer's attorney will make certain the mortgage is paid off before the buyer takes title.

User Avatar

Wiki User

โˆ™ 2010-07-03 15:24:36
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Add your answer:

Earn +20 pts
Q: If your name is on the deed but not the mortgage who is responsible for the mortgage when the house is sold?
Write your answer...
Submit
Sign up for more answers

Registered users can ask questions, leave comments, and earn points for submitting new answers.

Already have an account? Log in

Related questions

If your name is not on the mortgage or deed are you responsible if the bank forecloses on your spouse's house?

If the bank is foreclosing on your spouse's house and you are not on the deed or mortgage then you are not responsible for the debt. The foreclosure should not affect your credit record.


Can the mortgage company take your house without the deed?

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.


Can your mom buy a house for you if you filed bankruptcy?

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.


Can the husband rent the house if he has the mortgage in just his name if they both share the deed of trust?

Yes, the husband can rent the house if he has the Mortgage in his name but the Deed of Trust is shared.


In ohio if i sign a quick claim deed to land and a house when my name is on the loan what exactly does this mean for me-?

In Ohio, if you sign a quick claim deed to land and a house when your name is still on the mortgage loan, you will still be responsible to the bank.


Can a house be foreclosed on if one name is on the mortgage and someone else s name is on the deed to the land or parcel?

That depends on whose name was on the deed when the mortgage was executed.


Can a lien be placed on your house if your name is not on the deed or mortgage?

No. They can only place a lien on your bank account. If your name isn't on the deed or mortgage they can't touch it.


If the husband's name is never on the loan but is on the deed is he responsible for debt?

No. If he didn't sign the mortgage then he is not responsible for paying it.


When a spouse is borrowing money and the wife must sign the mortgage does her name have to be on the warranty deed?

Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.Of course. She should be fully informed of the consequences of signing the mortgage and not being on the deed. If the wife signs the purchase money mortgage then her name should also be on the deed. She should not sign to be responsible for a debt for property she doesn't own.


Husband-and-wife buy a house together the wife's name is not put on the deed until the second mortgage but the second mortgage is now paid off do we still share the deed of trust?

If a husband and wife buy a house together and the wife's name is not put on the deed until the second mortgage, yes, the deed is still shared after the second mortgage is paid off.


If my wife has a house in her name, only, and she dies am I responsible for the mortgage?

Only if your wife leaves the house to you as an inheritance are you legally responsible for her mortgage upon death.


Do you have ownership rights to the house if you are listed on the deed but not on the mortgage?

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 mortgage is in your name but your name is not on the deed how do you get your name on the deed?

If you signed the mortgage and note then you promised to pay for property you do not own. By signing, you agreed to be fully responsible for paying the loan if the primary borrower, the owner, doesn't pay. The only way for you to get an ownership interest would be for the owner to convey an interest to you by a deed.


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.


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.


If your name is on a deed and a mortgage with someone else are you co owner of the property?

Yes. If you are on the deed and also signed the mortgage you are the co-owner and you have the right to the use and possession of the property. You are also responsible for paying the mortgage in full if the person you "co-signed" for stops paying it.


Louisiana is a community property state you are on the deed only with your husband It says you own it by tenancy by entirety What does this mean What if the mortgage is only in his name?

You AND your husband are the owners of the house. Should you divorce, you have an equal investment in the house. The mortgage is in your husband's name, but should he die, you are responsible for this bill. If you default on the loan, you will foreclose on the house. The mortgage company does not care who pays the loan off, as long as it gets paid.


What are the rights of an unmarried partner to the ownership of a house in Ireland when they do not have their name on the Deed nor contribute to the mortgage?

No rights.


Do you have rights to house if married but name not on mortgage or deed?

The answer depends on the laws in your particular jurisdiction and when the property was purchased.


You want to remove one person name from your house title?

If the house has a mortgage then you have to refinance. If the house is all paid off then you can go to a lawyer and have the name removed from the deed.


Can you quit claim a deed after bankruptcy is discharged?

Yes, because after bk discharge you still own the house . The only way to get out from under the house is to get your name off the deed. Ether by forcloser, short sale, or normal sale. If you can find someone to quit claim deed to that will work also. Because after bk discharge you are not responsible for the mortgage, so if you can get off of the deed you are free.


Your name is on the mortgage but not on the deed how do you prove ownership to the house?

It depends on why your name isn't on the deed. If it was a mistake, you need a lawyer to figure out the best way to get your name put onto a corrective deed. If your name is not on the deed because you obtained the property as a matter of law, then you may need to file a new deed to show you are the rightful owner, along with the papers that made you the rightful owner. Be sure to ask the lender what they were thinking when they accepted your promissory note and mortgage for a house that is not deeded to you.


Can a husband sell the house if the wife name is on the deed but not on the mortgage?

No. The wife must sign the deed.No. The wife must sign the deed.No. The wife must sign the deed.No. The wife must sign the deed.


Can the mortgage holder sell the house if my name is on the deed?

Yes, but only if you have defaulted on the mortgage. When you granted the mortgage you gave the lender an interest in the property that it could foreclose if you do not keep up payments on the mortgage. The lender can sell the property to recover the debt. If your name went on a deed after the mortgage was granted, and the mortgage was granted by the owner of the property at the time of the mortgage, the bank has a superior claim and can take the property if the mortgage isn't paid.


How do you change the name on a house deed after a divorce?

The co-owner who has agreed to transfer their interest to the other must execute a deed and the deed must be recorded in the land records. The separation agreement should also address any outstanding mortgage. Someone who has signed a mortgage cannot take their name off that mortgage. It must be discharged and refinanced.