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What happens if house is yours alone but secured loan is in joint names and you sell the house?
Wiki User
∙ 11y ago
The amount needed to pay off the loan will be withheld from the proceeds at the closing. The purchaser's attorney will make certain the mortgage is paid off.
The amount needed to pay off the loan will be withheld from the proceeds at the closing. The purchaser's attorney will make certain the mortgage is paid off.
The amount needed to pay off the loan will be withheld from the proceeds at the closing. The purchaser's attorney will make certain the mortgage is paid off.
The amount needed to pay off the loan will be withheld from the proceeds at the closing. The purchaser's attorney will make certain the mortgage is paid off.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoThe amount needed to pay off the loan will be withheld from the proceeds at the closing. The purchaser's attorney will make certain the mortgage is paid off.
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Can you get a joint mortgage with your grandparent and what happens if she dies can i keep the house and mortgage?
The type of deed will determine what happens to the property after her death. If there is a right of survivorship, you will get the house. The mortgage company determines whether you keep the mortgage or have to refinance.
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What happens when the joint owner sends someone to repossess your car?
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What name is given to a joint House-Senate committee?
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In Pennsylvania if a house is deeded to both divorced parents and one dies without a will and two children are involved and only one is legal age what happens to the house?
Since the parents are divorced, the house is owned as Joint Tenants (not Tenants in the Entirity), so as Joint Tenants, the surviving parent would own half the house with the two children owning the other half. If the house is owned as Tenants in Common, which isn't as likely, then when one person dies, the other person gets the entire house.
Which type of committee acts as a study group for the house and senate?
joint committee
What type of joint ownership protects a tenant from the others bankruptcy?
None. The only protection is for the non-bankrupt owner to pay the secured-credit (mortgage, e.g.) arrears and the monthly payments going forward. Some state laws regarding tenancy by the entirety/entireties, available only to married couples, may make it more complicated, but both had to sign the mortgage, and agreed thereby to be each responsible for the full payment. If we're talking about a mortgage or secured loan, the house or other asset can go into foreclosure/repossession if the bankruptcy abandons the secured asset. Strictly speaking, bankruptcy should not affect the tenancy relationship in any other way. Any joint accounts become the sole responsibility of the non-bankrupt tenant. Any joint credit secured by the jointly-owned property may or may not be dischargeable in a Chapter 7, depending on what it is and if a cram-down is available, but will still be the responsibility of the non-bankrupt tenant
Joint powers of senate and house of representative?
to be black
