0
What else can I help you with?
Can you gift a house when the mortgage is paid off?
Providing that all other requirements of law have been met, once the mortgage has been paid off and the clear title has been registered, you may give a house as a gift to whomever you want.
Assessment is disputed on fully paid condo mortgage - what would a lien do?
The effect of a lien is to cloud title based on monies owed. The title cannot change hands without the removal of the lien, meaning the lien amount is paid before title is clear.
How do you get title transferred in your name if there is a lien on the property?
The lien must be paid in order to clear the title.The lien must be paid in order to clear the title.The lien must be paid in order to clear the title.The lien must be paid in order to clear the title.
If your name is on the deed but not the mortgage who is responsible for the mortgage when the house is sold?
The mortgage will be paid off from the proceeds of the sale. The buyer's attorney will make certain the mortgage is paid off before the buyer takes title.
What does it mean to be a title theory state in Michigan?
In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.
You paid off your mortgage in Oct 2009 but have not received a clear title you are selling your condo and need a clear title?
You should have received a mortgage discharge from the mortgagee when the last payment was made. You should check your records. If you didn't receive it then you need to contact them now and request a recordable discharge and then record it immediately in the land records office.
Does a deed of trust grant ownership rights?
A deed of trust as part of a mortgage transaction transfers title to the mortgaged property to a trustee until the mortgage is paid in full. When the mortgage has been paid off the trustee must transfer the property back to the owner. The trustee has no actual "ownership rights" since it acts as only a holder of the title until the note is paid.A deed of trust as part of a mortgage transaction transfers title to the mortgaged property to a trustee until the mortgage is paid in full. When the mortgage has been paid off the trustee must transfer the property back to the owner. The trustee has no actual "ownership rights" since it acts as only a holder of the title until the note is paid.A deed of trust as part of a mortgage transaction transfers title to the mortgaged property to a trustee until the mortgage is paid in full. When the mortgage has been paid off the trustee must transfer the property back to the owner. The trustee has no actual "ownership rights" since it acts as only a holder of the title until the note is paid.A deed of trust as part of a mortgage transaction transfers title to the mortgaged property to a trustee until the mortgage is paid in full. When the mortgage has been paid off the trustee must transfer the property back to the owner. The trustee has no actual "ownership rights" since it acts as only a holder of the title until the note is paid.
Can you sell a house that has a second mortgage on it?
Absolutely, you can sell a house with a second mortgage on it. Keep in mind that you will have to provide clear title at time of closing and that the all mortgages (first and second) will need to be satisfied at closing which can be paid with the proceeds from the sale.
Who can you transfer your home title to?
With a quit claim and the agreement of your mortgage company, you can transfer your home title to anyone. However, if you are carrying the mortgage, there needs to be lien on the title until the loan is paid in full.
Does a security deed convey legal title to the property under Georgia law?
Yes. Georgia is a title theory state. That means the title remains in the lender until the debt is paid. However, the conveyance is a conditional conveyance. The lender cannot keep the property unless there is a default in the mortgage. If the mortgage is paid off the lenders interest is extinguished and it must provide a release of the mortgage that should be recorded in the land records.Yes. Georgia is a title theory state. That means the title remains in the lender until the debt is paid. However, the conveyance is a conditional conveyance. The lender cannot keep the property unless there is a default in the mortgage. If the mortgage is paid off the lenders interest is extinguished and it must provide a release of the mortgage that should be recorded in the land records.Yes. Georgia is a title theory state. That means the title remains in the lender until the debt is paid. However, the conveyance is a conditional conveyance. The lender cannot keep the property unless there is a default in the mortgage. If the mortgage is paid off the lenders interest is extinguished and it must provide a release of the mortgage that should be recorded in the land records.Yes. Georgia is a title theory state. That means the title remains in the lender until the debt is paid. However, the conveyance is a conditional conveyance. The lender cannot keep the property unless there is a default in the mortgage. If the mortgage is paid off the lenders interest is extinguished and it must provide a release of the mortgage that should be recorded in the land records.
What is the cost to discharge a mortgage?
Generally, if you recently paid off a loan, the lender has already charged you the service fees to obtain, draft and/or record the release/discharge of mortgage. On the other hand, if you are dealing with a missing mortgage discharge that has been paid off years ago (perhaps it's not even your mortgage, but remains on title for a prior owner) than you need to get a independ servicer to research your request.
Can you deduct points on a mortgage when filing your taxes?
Yes, you can deduct points paid on a mortgage when filing your taxes, as long as the points were used to obtain the mortgage on your primary residence.
