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What is liability of co-signer if the owner files bankruptcy and moves out of state?
Wiki User
∙ 16y ago
unfortunately you will be stuck paying the bill.
Wiki User
∙ 16y ago
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If 2 people are on a home 1 signs over a quitclaim deed moves out and files bankruptcy will the other person loose the house do to the bankruptcy?
A quitclaim deed says the signer no longer has any ownership or responsibilities to the property in question. However, if there is a mortgage in the signers name, he or she is still responsible for that debt, even though they no longer own the property. If a person files bankruptcy after signing a quitclaim deed, any mortgage owed is still factored into the bankruptcy proceedings. If the court so deems it, and it is a common practice, filing a quitclaim deed just prior to filing for bankruptcy can be considered fraud. It is best to consult a bankruptcy attorney familiar with local laws prior to signing any document.
If you were to cosign for a rental agreement how will your credit be affected and how does one get removed as cosigner?
The way it may impact on the credit report depends on if the person pays the rent as agreed. It will also play a part in the cosigner's DTI. Usually the only way of being removed as a cosigner is if the agreement is reaffirmed by the primary holder and the lender. In the instance of rental agreements, a cosigner can sometimes be relieved of obligation if there is a breach of contract. For example, if the person moves someone not on the original rental contract into the apartment.
What are the advantages of becoming a private limited company?
It moves liability from the proprietors as individuals to the company, and facilitates transactions and other administrative processes. Note though the transfer of liability may not be 100% in law for certain situations, and according to national or local laws.
Are you still liable if you cosign on an apartment and someone moves out and someone else moves in?
If you co-sign you are always responsible (even if the person claims bankruptcy you will still be responsible) unless you have a legal agreement that someone else will be taking over the payments for you. If you are talking about a roommate situation, the apartments usually have something called a "roommate" agreement. Ask the apartment. Co-signing for something that can't be used as collateral is always bad.
Who pays the mortgage after a divorce?
the one that stays behind.Not the one that moves out
If 2 people are on a home 1 signs over a quitclaim deed moves out and files bankruptcy will the other person loose the house do to the bankruptcy?
A quitclaim deed says the signer no longer has any ownership or responsibilities to the property in question. However, if there is a mortgage in the signers name, he or she is still responsible for that debt, even though they no longer own the property. If a person files bankruptcy after signing a quitclaim deed, any mortgage owed is still factored into the bankruptcy proceedings. If the court so deems it, and it is a common practice, filing a quitclaim deed just prior to filing for bankruptcy can be considered fraud. It is best to consult a bankruptcy attorney familiar with local laws prior to signing any document.
If you were to cosign for a rental agreement how will your credit be affected and how does one get removed as cosigner?
The way it may impact on the credit report depends on if the person pays the rent as agreed. It will also play a part in the cosigner's DTI. Usually the only way of being removed as a cosigner is if the agreement is reaffirmed by the primary holder and the lender. In the instance of rental agreements, a cosigner can sometimes be relieved of obligation if there is a breach of contract. For example, if the person moves someone not on the original rental contract into the apartment.
Does a virus scanner delete infected files?
Yes, or moves them to a "Virus Chest"
What happens if one co-buyer of a vehicle lets the car get repossessed and moves abroad without paying the deficiency?
The other co-owner or cosigner will be responsible for the debt.
Is cut files and deleted files are different?
Essentially, yes. Cutting pastes the file to your clipboard and Then deletes it. Deleting just moves it to your recyle bin.
Where do Rental deposits appear in balance sheet?
Liability - It is not your money until the tenant moves out and is either reimbursed or used up.
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iFile has the capabilities of standard file management i.e copy and paste, moves files between directories, bookmarking files and folders, editing of text files and file attributes, to name a few.
How does the operating system moves files from secondary storage to main memory?
it gets a bunch of people to carry it there
What are the advantages of becoming a private limited company?
It moves liability from the proprietors as individuals to the company, and facilitates transactions and other administrative processes. Note though the transfer of liability may not be 100% in law for certain situations, and according to national or local laws.
How can you watch moves on your Nintendo DS lite?
Get a ttds/dstt,r4,or n5 and get moonshell giga (have to use dpg files)
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If you mean sides as in the players, they are simply "White" and "Black". White always moves first then Black moves. If you means sides as on the chessboard itself, they are called "files" as are all the vertical lines of squares on the board.
What liability do you have when your 18-year-old moves out but still drives a car in your name?
The registered owner is ultimatly still responsible for the vehcile. Liability and all. They will still go after the driver of car too. And if there is not enough Liability coverage on the vehicle they have every right to also go after the driver. Please note... any parking tickets received or camera pictures will go to the owners address.
