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Which term is defined as an owner's financial interest in a property?
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∙ 14y ago
equity
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∙ 14y ago
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Can a spouse get a home equity loan without the other spouse's signature?
All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.
When there are two names on a deed can one get a mortgage loan or do both parties have to sign for the loan?
Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.
Can a spouse take a home equity loan in one spouse's name?
A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.
Can a co-owner refinance a property without telling the other co-owner?
No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.
Can your name be on the title but not on the mortgage?
No. Any professional, knowledgable lender will require that all owners sign the mortgage so that in the event of a default it can take possession of the property by foreclosure. If only one of two owners signed, the lender can only take the half interest of that person and not the other owner.No. Any professional, knowledgable lender will require that all owners sign the mortgage so that in the event of a default it can take possession of the property by foreclosure. If only one of two owners signed, the lender can only take the half interest of that person and not the other owner.No. Any professional, knowledgable lender will require that all owners sign the mortgage so that in the event of a default it can take possession of the property by foreclosure. If only one of two owners signed, the lender can only take the half interest of that person and not the other owner.No. Any professional, knowledgable lender will require that all owners sign the mortgage so that in the event of a default it can take possession of the property by foreclosure. If only one of two owners signed, the lender can only take the half interest of that person and not the other owner.
Who is actually the owner on a survivorship warranty deed?
The grantees in the deed are the actual owners. If one dies their interest in the property is automatically passed to the survivor.The grantees in the deed are the actual owners. If one dies their interest in the property is automatically passed to the survivor.The grantees in the deed are the actual owners. If one dies their interest in the property is automatically passed to the survivor.The grantees in the deed are the actual owners. If one dies their interest in the property is automatically passed to the survivor.
Can a life estate creator and owner change their mind and get the property back?
No. They have transferred ownership to the new owners. They no longer have any ownership interest in the property. If they want the property back the new owners must agree to transfer it back by deed.No. They have transferred ownership to the new owners. They no longer have any ownership interest in the property. If they want the property back the new owners must agree to transfer it back by deed.No. They have transferred ownership to the new owners. They no longer have any ownership interest in the property. If they want the property back the new owners must agree to transfer it back by deed.No. They have transferred ownership to the new owners. They no longer have any ownership interest in the property. If they want the property back the new owners must agree to transfer it back by deed.
Can a co owner gift a property without the consent of other co owners?
The co-owner can only transfer their own interest in the property. If there are four owners the interest of one would be a one-quarter interest. A co-owner can transfer their own interest in the property without the consent of the others.
What is the difference between Property owner's liability and Tenants liability?
Property owners Liability is the financial , legal liability attaches to property owners due to their property, where as tenants libility vice versa
Can a spouse get a home equity loan without the other spouse's signature?
All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.All the owners of the property must sign in order for the lender to have the authority to take the property by foreclosure in the case of a default. A prudent lender will not loan money on a half interest in real property since they could not take possession of the non-borrower's half interest if the loan wasn't paid.
How can you relinquish rights to a property that your husband bought with 2 friends in NC?
Your husband must convey his interest to the co-owners by a quitclaim deed.Your husband must convey his interest to the co-owners by a quitclaim deed.Your husband must convey his interest to the co-owners by a quitclaim deed.Your husband must convey his interest to the co-owners by a quitclaim deed.
In an undivided interest property can one and only one partner give permission to hunt?
You should have permission in writing from all the owners of the property.
When there are two names on a deed can one get a mortgage loan or do both parties have to sign for the loan?
Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.Al the owners must sign the mortgage or the bank will not be able to foreclose on the property in case of a default. If there is another owner you cannot grant a mortgage on their interest in the property.
What is the law in Indiana when their is a quit claim deed on property and the co owner dies?
It depends on how the co-owners held title. If by survivorship the property automatically will become the sole property of the survivor. If held as tenants in common the decedent's interest will pass to their estate and distribute to their heirs.It depends on how the co-owners held title. If by survivorship the property automatically will become the sole property of the survivor. If held as tenants in common the decedent's interest will pass to their estate and distribute to their heirs.It depends on how the co-owners held title. If by survivorship the property automatically will become the sole property of the survivor. If held as tenants in common the decedent's interest will pass to their estate and distribute to their heirs.It depends on how the co-owners held title. If by survivorship the property automatically will become the sole property of the survivor. If held as tenants in common the decedent's interest will pass to their estate and distribute to their heirs.
Can one owner lease out property that is jointly owned?
No. All the owners would need to consent to the lease by signing it. If all the owners of the property, or their duly appointed agent, didn't sign the lease it would not be a valid lease. All the undivided interest owners have the right to the use and possession of the whole property but one owner cannot encumber the whole property.A lease signed by only one of the owners of the property is not binding on the other owners. The tenant would not have their permission to lease their property.
What property does the owner of a condo control?
Read your governing documents to determine what you own and can therefore control personally, and what real estate assets you own in common with all other unit owners. The boundaries can be defined as 'the paint', 'the studs', and so forth. As a member of the condominium community, you have a percentage say in control of 100% of the property based on your allocate interest, which is also defined for your unit in your governing documents.
Are children responsible for maintaining deceased parents property?
If they inherited the property then they have a stack in the property and responsibility to uphold the standards of the community;Howerver, if they are not the property owners and have no interest in the property then, I would say they should not be held responsible.
