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Who is responsible for my deceased 51-year old son's mortgage on his home?
The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
Who is responsible for maintaining tree overgrowth over property lines?
In most cases, the owner of the trees or bushes is responsible for maintaining them. However, if the overgrowth extends onto your property, you have the right to control it.
What rights and responsibilities do I have as someone who is on the deed but not the mortgage of a property?
As a person on the deed but not the mortgage of a property, you have the right to ownership of the property and the responsibility to maintain it. However, you are not responsible for the mortgage payments unless specified in a separate agreement.
If your deceased father had a home equity loan are the heirs now responsible for paying it off?
The heirs are not legally responsible for paying the loan. However, if they want to keep the property the loan must be paid or the lender will take possession of the property by foreclosure.
What does it mean to be on the deed but not the mortgage, and how does this impact ownership and financial responsibility for a property?
Being on the deed but not the mortgage means you have ownership rights to the property but are not responsible for the mortgage payments. This arrangement can impact ownership by giving you legal rights to the property, but you are not financially responsible for the loan. However, if the mortgage is not paid, the lender can still foreclose on the property, affecting your ownership interest.
If a person is intoxicated and has an accident after leaving a bar is the drunk driver responsible or the bar personnel?
The driver is always responsible. There are, however, some US states which have laws which can make the person who served the offender responsible as well under both criminal and civil codes.
Does the city own 10 feet of the property on personal residence in Ca?
Municipalities always own the first 10 feet of land from the street curb towards your property. However, you are responsible for maintaining it at your own cost. Sound fair?! Municipalities always own the first 10 feet of land from the street curb towards your property. However, you are responsible for maintaining it at your own cost. Sound fair?!
Do you have to pay for a home if you are on the deed?
If your name was added to property after the property was mortgaged then you are not legally responsible for paying the mortgage and a foreclosure of the mortgage will not affect your credit. However, if the mortgage isn't paid the lender will take possession of the property by a foreclosure process.
Who is at fault when both parties are backing up their vehicles resulting in an accident claim by one of the parties?
The driver responsible for the accident is always at fault. However, Both parties are usually found at fault in this instance. This is generally called Joint fault.
If your trailer home was repossessed and sold are you responsible for the remaining balance of the loan?
Yes. You are responsible to repay every cent of the loan plus the stated interest rate and the default interest rate if any is stated in the loan papers. The lender is allowed to take possession of your property if you fail to make the scheduled payments on the loan. However, by the time the lender repossesses the property, the value of that property has usually gone down due to neglect or abuse of said property. The lender is bound to get the best sales price for the property. If you owed $10,000 on the loan and the property was sold for $12,000, the lender has to return the extra $2,000 to you. However, if you owed $10,000 and the property sold for $8,000, you would be responsible to pay the $2,000.
Can you collect rent and not pay mortgage?
No Yes, however you will can be held responsible if you break the terms of the agreement you have with the tenants on the property when. reposesion proceedings startagainst you.
Is it against the law to remove a land survey stake on someone elses property in Oklahoma?
It may not be against the law if a person removes it by accident. However, if a person removes it to try to cheat the person out of their property, it is very much against the law.
