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?

How to calculate equity in home?

Equity means : Ownership: Going by the word Home Equity it mens your share of ownership in your property: Home Equity= Estimated value of your proprty- Rateable value/ outstanding mortgage amount.

Does a quitclaim deed relieve a person of the debt on the mortgage?

Of course not. If the person signed a mortgage they will be responsible for paying the mortgage until it is paid in full. The mortgage is a contract with the lender.You should not transfer property that is encumbered by a mortgage. Mortgages contain a due on transfer clause. That means if there is a transfer of ownership the lender can demand payment in full immediately. If the mortgage isn't paid the lender will foreclose and additions expenses and costs will be added to the amount due.Of course not. If the person signed a mortgage they will be responsible for paying the mortgage until it is paid in full. The mortgage is a contract with the lender.You should not transfer property that is encumbered by a mortgage. Mortgages contain a due on transfer clause. That means if there is a transfer of ownership the lender can demand payment in full immediately. If the mortgage isn't paid the lender will foreclose and additions expenses and costs will be added to the amount due.Of course not. If the person signed a mortgage they will be responsible for paying the mortgage until it is paid in full. The mortgage is a contract with the lender.You should not transfer property that is encumbered by a mortgage. Mortgages contain a due on transfer clause. That means if there is a transfer of ownership the lender can demand payment in full immediately. If the mortgage isn't paid the lender will foreclose and additions expenses and costs will be added to the amount due.Of course not. If the person signed a mortgage they will be responsible for paying the mortgage until it is paid in full. The mortgage is a contract with the lender.You should not transfer property that is encumbered by a mortgage. Mortgages contain a due on transfer clause. That means if there is a transfer of ownership the lender can demand payment in full immediately. If the mortgage isn't paid the lender will foreclose and additions expenses and costs will be added to the amount due.

What are the downfalls of having your name on a deed but not the mortgage?

None, other than it not becoming a part of the person's credit history. A deed gives the persons named the legal right to ownership. A mortgage obligates the signers for repayment of the loan amount.

What affects the size of your monthly mortgage payment?

Your monthly mortgage payment is affected by the amount of the loan, the interest amount, and the length of time of the mortgage.

How do you unmortgage properties in Monopoly?

In Monopoly, you can unmortgage properties by paying the mortgage amount plus a 10 fee to the bank. This allows you to regain ownership of the property and collect rent from other players.

If a same-sex couple lives together but the home and mortgage are in the name of only one of the partners what happens to the house and mortgage if that partner dies?

Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.Generally, the mortgage should have been executed by both owners. The property would remain subject to the mortgage and the survivor would need to continue making the payments. Owners in a situation where two salaries are needed to make mortgage payments should consider life insurance to cover the amount of the mortgage.

What is another word for equity?

Ownership of stock or some form of transact-able security that could be turned into cash - eg the amount that the owner would receive after selling a property and paying off the mortgage

What is the total amount I will need to pay each month for my mortgage?

The total amount you will need to pay each month for your mortgage includes the principal amount borrowed, interest, property taxes, and insurance. This total amount is known as your monthly mortgage payment.

What happens if seller dies who gets the house?

In the UK the seller is the owner of the house together with any mortgage lender, the proportion of ownership depends on the amount outstanding on the mortgage. If the seller dies then the 'estate' will own the sellers proportion of the house. The estate will pass on to the next of kin or anyone nominated in the sellers will.

How much money is a mortgage each month?

The amount of mortgage each month will depend on the amount of money borrowed, the duration and APR interest on the amount. You will need these figures to calculate the amount

You had a rental property that went into foreclosure and you could no longer keep the property insured the property burned down and the city is sueing for the demolition mortgage co insured?

the mortgage co purchased insurance on the property in the amount of $65,000.00 the amount owed on the loan was $55,000.00 The house was set on fire and burned beyond repair now the city is sueing me for the demolition. Do I have any rights in regards to this matter?

How much am I preapproved for a mortgage?

Your preapproval amount for a mortgage is the maximum loan amount a lender is willing to offer you based on your financial information.