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Not necisarily. If you are married and the house was bought after the marriage then no. If you are married and the house was bought before the marriage and the person that did not originaly buy the house made one payment on it or you had a joint account that the payments came out of, then they are half owner. If you are just living together with no marriage, then the house it the person's that bought it, but you have to be carful of common law marriage.
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How does cosigning for a mortgage differ from a joint mortgage?
A joint mortgage is executed by two people who own real estate. Each is responsible for paying the mortgage in full.A co-signer has no ownership interest in the property but they have agreed to pay off the mortgage if the primary borrower fails to pay. In other words, they agree to pay the mortgage for property they don't own.
What happens when you sever a joint mortgage?
You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.
Do both parties on a joint mortgage have to file bankruptcy on a joint mortgage?
No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.
Your husband passed away you have joint mortgage do you still have to pay mortgage?
yes
If you have a joint mortgage with an ex partner and you are refused a chage of parties for your joint mortgage are there any other options to getting them off the mortgage?
contact a real estate attorney in your state to assist you
How does cosigning for a mortgage differ from a joint mortgage?
A joint mortgage is executed by two people who own real estate. Each is responsible for paying the mortgage in full.A co-signer has no ownership interest in the property but they have agreed to pay off the mortgage if the primary borrower fails to pay. In other words, they agree to pay the mortgage for property they don't own.
What if 2 people are on a mortgage and one moves out of the home in North Carolina?
The names on a mortgage are not what decides ownership, the deed to the house is the determining factor. Married couples generally own a house by Joint Tenancy With Surviviorship Rights, Joint Tenancy or in a few states Tenancy By The Entirety. Even if one spouse leaves the residence he/she does not lose their rights of ownership.
What happens when you sever a joint mortgage?
You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.You cannot sever a joint mortgage. It must be paid off.
Do both parties on a joint mortgage have to file bankruptcy on a joint mortgage?
No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.
If a home has 2 people named on the deed but the mortgage is in only one persons name what happens if the person who dies is not the mortgage holder?
It depends on how the 2 people owned the property: as joint tenants, tenants by the entirety, tenants in common, and whether the mortgage covered the entire fee ownership or just one joint tenant's interests in it. Too little information to be specific, but if we're talking joint tenants with the right of survivorship, the mortgagor-owner would inherit the deceased joint tenant's share and nothing much would change.
What happens to the joint mortgage holder of a take over mortgage if the original mortgage holder pays the loan?
The joint person is still responsible until the loan is paid off or refinanced out of the person's joint name.
Do you have to be married to have a joint mortgage in Florida?
No.
If a joint tenant moves out of the property and out of the state and refuses to pay the mortgage can the other joint tenant claim abandonment and gain total ownership of the property in Delaware?
i would like too know the answer to this question too except im in California do the laws change
Does wife's co signing a mortbage make her a joint owner?
No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.No. A person who co-signs a mortgage when they are not on the deed has simply volunteered to pay the mortgage if the primary borrower stops paying. The co-signer of a loan or mortgage is equally responsible for paying the debt. Co-signing bestows no ownership interest in the property.
Your husband passed away you have joint mortgage do you still have to pay mortgage?
yes
If you have a joint mortgage with an ex partner and you are refused a chage of parties for your joint mortgage are there any other options to getting them off the mortgage?
contact a real estate attorney in your state to assist you
If you pay a mortgage company to hold your property title deeds do you need to advise them if one of the joint holders dies?
If the property was held in a joint tenancy with the right of survivorship you are the sole owner and the property does not need to be probated. To prove your ownership you only need to record a death certificate in the land records.You don't need to notify the bank. You do need to make all your mortgage payments. You are responsible for paying the mortgage or the bank can foreclose if you default.
