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What if your name is on the DEED as one-third co-owner you have never paid a penny towards the property the property is sold do you have rights to any of the equity?
Wiki User
∙ 18y ago
Then I'd say you are entitled to 1/3 of the TOTAL SALES PRICE. I'm not a lawyer, but I think you should consult one. I AM an attorney, and if you are indeed the actual party named on this deed, absolutely you are legally entitled to one-third of the proceeds of any sale. Real property is often gifted or passed by devise, transferring legal title without any payment by the recepient- having put money into the property is irrelevant when it comes to title and rights of ownership- This is assuming the way in which YOU wound up on the deed was not fraudulently purveyed (to cheat another, etc., it gets complicated), a mistake "in fact" (it was SUPPOSED to be your sister on the deed), or a mistranscription (you are John H. Doe, but the grantor meant to write John I. Doe). real estate conveyances are governed under probably the oldest laws we have- dating back to the Middle Ages' English laws- and so, if you are on the deed, rightfully, it's YOUR land to the extent the deed says so! BTW: contracts for the sale of land must be in writing because they are so important, and the ultimate writing memorializing the transfer of an interest in land is the deed itself. If the deed is 100% valid (cannot be shot down for the above reasons), that's that. It's a very big deal document under the law.
Wiki User
∙ 18y ago
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How does one get real estate equity?
Real estate equity is the market value of the property after subtracting outstanding loans. You can improve your equity by making payment towards the loans.
How does a person qualify for a second mortgage?
If they have enough equity in the property and have enough income to take on more debt.If they have enough equity in the property and have enough income to take on more debt.If they have enough equity in the property and have enough income to take on more debt.If they have enough equity in the property and have enough income to take on more debt.
How do you calculate equity in the property?
Equity is calculated by subtracting the amount still owed on the mortgage loans from the fair market value of the property.
Can you get a home equity line of credit to buy a home?
No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.No. You must apply for a purchase money mortgage if you do not already own any home. If you already own a property and have enough equity in that property, you can take a home equity loan on that property and use those proceeds to purchase another property.
What does it mean when a foreclosed property reads that the property owner sold property to the bank for 1000?
That means that the owner had some equity in the property. The bank agreed to give them some of that equity for a clear title.
What do equity loans do for you?
An equity loan allows you to pay towards the loan amount while earning equity. So if you were to sell your home you would make money to use towards your next home.
What is equity investment in real estate?
An equity investment, on the other hand, represents a residual interest in the property. When you are an equity investor, you are essentially the owner of the property. You stand to gain a lot when the property value increases or if you are able to get more rent for your building.
Do you have to be the owner of the home to get a home equity loan?
AnswerYes. Only the owner of the property can legally sign it over as collateral for a loan. The owner owns the equity in the property.
How is housing equity calculated?
Equity is current market value of the property minus debt (what is owed on the property). For example, if your property is worth %500,000 and your balance in your mortgage is $400,000, your equity is $100,000. If you have any more questions you can ask a real estate agent, loan officer, or an appraiser.
Can you get a home equity loan on your rental property?
If you are renting the property from someone else and do not own it, no, because a home equity loan is like a mortgage. The lender has a lien on the property if you default on the loan. If you are the owner of a property and rent it out, yes you should be able to get a loan with the property as security.
return on equity?
this ratio shows how much income is generated by equity of the company. it is a great contributor towards profitability of a company. return on equity is calculated as follows:Return on equity = (Net income / Total equity) x 100
What are the benefits of Home Equity?
Home equity is the value of a homeowner's property minus all the money they owe on that property (as mortgage or liens). The benefit of home equity is that a person can borrow against the equity in their home at better interest rates and with better tax advantages then other types of loans.
