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Can 1 person sell a home if 2 people are on mortgage but 1 signed over the deed?
Wiki User
∙ 11y ago
The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.
The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.
The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.
The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoThe owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.
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If one person is on the deed and two people signed the note can the person on the deed sell the property without permission satisfy the mortgage and collect the proceeds?
Of course. A person who signs a note and is not on the deed is simply a volunteer. They have volunteered to pay a mortgage on property they don't own if the primary borrower defaults. The owner of the property can sell the property and pay off the mortgage from the proceeds at any time.
One person is on the deed and two people signed the note . Can the person on the deed sell the property without permission satisfy the mortgage and collect the proceeds?
Yes. A person who does not own the property but signs the note is simply a volunteer. They have volunteered to pay the mortgage if the primary borrower (the owner of the property) defaults. Signing a mortgage for property you don't own is a very bad decision.
Can a home be foreclosed on when the mortgage is in a different name from What is on the deed?
Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.Yes, if the person whose name is on the mortgage owned the property at the time they signed the mortgage. If they subsequently transferred the property, it was transferred subject to the mortgage.If the person who signed the mortgage did not own the property at the time, the mortgage is not enforceable.
What relief can the mortgagee receive if 2 names on the deed but only one signed the mortgage and the person not on the mortgage moved out and left the expense to the one whose name is on the mortgage?
Regardless of whose name is on the mortgage the property legally belongs to the person or persons named on the deed. The mortgage is only a financial obligation, the deed is a legal ownership document. Of course, if the mortgage is not paid the mortgagor can file a foreclosure action against the property.
If 2 people are unmarried and deeds are in 1 name to avoid paying a huge amount of tax and they split where does the person who is not on the deeds stand with regards to paying mortgage or ownership?
First, the person who is the grantee on the deed owns the property. Period. Second, the person who signed the mortgage is obligated to pay the bank. If you signed a mortgage but didn't own the property the bank can come after you to pay if the property owner defaults on the mortgage. It will ruin your credit. Your answer: If you do not own the property and yet you signed the mortgage then you own nothing and you will be held responsible for paying the mortgage.
If two people are on the deed but only one is on the mortgage can the second person do anything to prevent foreclosure?
no,because that persons name is not on the deed .. unless the second person gives money to the person paying the mortgage
What are your rights with joint mortgage and you have split up and am am now paying all mortgage?
Each person who signed the mortgage is responsible for paying that debt. You should discuss your situation with an attorney, especially if the other person's name is also on the deed.
Can supplementary deed supersede trust deed?
The only effective deed is a deed signed by the current owner of the property or in the case of a trust, the current trustee of a trust that owns property. If the owner conveys property by a deed after they have granted a mortgage by a trust deed the property is subject to the mortgage and if it's not paid the lender can take possession of the property.The only effective deed is a deed signed by the current owner of the property or in the case of a trust, the current trustee of a trust that owns property. If the owner conveys property by a deed after they have granted a mortgage by a trust deed the property is subject to the mortgage and if it's not paid the lender can take possession of the property.The only effective deed is a deed signed by the current owner of the property or in the case of a trust, the current trustee of a trust that owns property. If the owner conveys property by a deed after they have granted a mortgage by a trust deed the property is subject to the mortgage and if it's not paid the lender can take possession of the property.The only effective deed is a deed signed by the current owner of the property or in the case of a trust, the current trustee of a trust that owns property. If the owner conveys property by a deed after they have granted a mortgage by a trust deed the property is subject to the mortgage and if it's not paid the lender can take possession of the property.
I cosigned a mortgage for another person but I am not on the deed. What are my rights?
Actually, you have no rights. All you have is an obligation to pay the mortgage if the primary borrower doesn't pay. If you co-signed a mortgage for property that is owned by another person you have offered to pay the mortgage even though you have no rights or interest in the property. If the borrower defaults the bank will go after you for payments just as you promised when you signed the mortgage. If the mortgage is foreclosed it will be reported on your credit record.
Can someone place on a property lien if one person is on mortgage but two people on deed of trust?
Yes.
If you have signed a quit claim deed as the grantor is there any way to force the grantee to refinance the mortgage loan to remove your name from the monitary obligation?
Unfortunately, if you've signed your rights away you are only removed from title and are still obligated to the mortgage. The only way to get out of the mortgage is for the person holding title to refi and have your name removed from the mortgage.
If a deed is in three names and two of the names belong to a married couple how can they take their names off the deed and put the deed in the third person's name only?
The two people can sign a quit claim deed and record it, effectively putting the deed in the third person's name only. HOWEVER, if there is still a mortgage on the property then the lender has to agree to this. If the couple co-signed for the home, this may not work until the third person can afford to refinance alone.
