0
If your name is on the mortgage but not the deed do you own the property?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Do you own the property that your name is on the deed but not the loan?
If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.
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.
Can a home be foreclosed on when the mortgage is in a different name from What is on the deed?
Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.
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.
Is it necessary for a mortgage co-signer to also be a co-owner on the deed?
The lender requires that anyone whose name is on the deed also sign the loan and mortgage papers, but a co-signer does not necessarily have to be an owner on the deed. If you do not own the property you must ask yourself who you would promise to pay a mortgage on land you do not own. Keep in mind that if the owner of the property doesn't pay the mortgage you will be held responsible for paying it even though you don't own the property. You need to ask yourself if you want to be in that precarious position. If the owner defaults your credit will be ruined as well.
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.
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.
Do you own the property that your name is on the deed but not the loan?
If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.
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.
Do you have to be on the deed to sign a mortgage married nj?
You should always be on the deed if you are going to sign the mortgage. Otherwise you are promising to pay for property you do not own. If the other party leaves you will have to pay the mortgage.You should always be on the deed if you are going to sign the mortgage. Otherwise you are promising to pay for property you do not own. If the other party leaves you will have to pay the mortgage.You should always be on the deed if you are going to sign the mortgage. Otherwise you are promising to pay for property you do not own. If the other party leaves you will have to pay the mortgage.You should always be on the deed if you are going to sign the mortgage. Otherwise you are promising to pay for property you do not own. If the other party leaves you will have to pay the mortgage.
Can a home be foreclosed on when the mortgage is in a different name from What is on the deed?
Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.
Do you have claim to a house if your name is on deed but you are not married?
You have asked a complicated question. Many people execute a quitclaim deed to a partner or spouse after they have purchased and mortgaged their property. If that is the case, the original owner should notify the bank of the change in ownership and the bank may require the new co-owner to sign a consent to the mortgage. If the bank isn't notified, you acquired an interest in the property subject to the mortgage and the mortgagor has breached their mortgage agreement with the bank. The bank can demand immediate payment of the balance due on the mortgage and can take possession of the property if the mortgage isn't paid. Another possibility is that if the mortgage is paid on time and the bank does find out about the transfer to you and notify the mortgagor that they have breached the agreement then you own a half interest in the property. On the other hand, if two people own property by deed and only one granted a mortgage, the bank has only a half interest in the property. If the mortgage is foreclosed the bank will acquire only a half interest in the property.
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.
Your husband owned the property prior to marriage but added your name to the deed. How much do you own?
If you are on the deed to the property you own a one half interest.If you are on the deed to the property you own a one half interest.If you are on the deed to the property you own a one half interest.If you are on the deed to the property you own a one half interest.
If you are on a promissary note but not on the deed do you sign the mortgage?
If you are not on the deed then you don't own the property. If you don't own the property then you should not promise to pay the mortgage. A co-signer on a mortgage and promissory note is completely responsible for paying the mortgage. If the primary mortgagor (who in this case is the owner of the property) defaults on the mortgage the lender will go after the co-signer of the note for payment. A default will ruin your credit. If someone has asked you to sign their note and mortgage then you should require they execute a new deed with you as the co-owner of the property.
Your husband owned a house in North Carolina before you were married But after you married he refinaced it the deed is in your name but the loan is not Do you have a legal right to the house?
If your husband refinanced his home and then conveyed it to you then you are the owner of the property subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property. If your name is on the deed as the grantee then you have a right to the use and possession of the property until you convey your interest to someone else by a quitclaim deed. If your name is on the deed WITH your husband then you own a half interest and have the right to the use and possession of the whole property.
Is it necessary for a mortgage co-signer to also be a co-owner on the deed?
The lender requires that anyone whose name is on the deed also sign the loan and mortgage papers, but a co-signer does not necessarily have to be an owner on the deed. If you do not own the property you must ask yourself who you would promise to pay a mortgage on land you do not own. Keep in mind that if the owner of the property doesn't pay the mortgage you will be held responsible for paying it even though you don't own the property. You need to ask yourself if you want to be in that precarious position. If the owner defaults your credit will be ruined as well.
