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Two names on a home equity loan and one person no longer lives there and doesnt want to pay it back is the other person still liable?
In short, if the loan is not paid, everyone on the contract can be sued.
If the loan is in both names, then both people are "jointly and severally" liable for non-payment, meaning that they can both be sued if the loan is not paid, and one or both of them must pay the awarded judgment, and the non-paying party may then be sued by the one who had to pay.
What else can I help you with?
If warning sign is posted and a person neglects the sign who is held liable?
The person liable is the person who ignored the warning.
What type of information is disclosed on an equity release?
An equity release allows someone to remain in their home, while receiving an income for it. It's very similar to a reverse mortgage. All the risks associated with the equity will be disclosed, such as the fact the person can no longer sell their home if they needed to.
Are you liable for a person parking in front of your house?
Liable for what? A parking ticket? Not if it isn't your car.
If a person is living on your property and gets in trouble are you liable?
You are liable for felonies, but otherwise not for anything else.
If the person who made it doesnt want it and the person that bought ot doesnt need it and the person who needs it doesnt know what is it?
nothing
What does severally liable mean?
The term severally liable means that a person, company, or place is responsible for the upkeep of an establishment, property, or service. If the person, company, or place is not following the responsibilities they are liable which means they can be sued for money.
If someone else crashes your car are they liable?
Yes the person crashed the car is directly liable, but if you gave him the car and he was drunk or etc. you are also liable
Who is liable for Turnover tax?
The person whose annual turnover is above 5,00,000. He is liable to pay tot tax
Where could a person find the facts about a home equity loan?
A person could find facts on a home equity loan online. Many banks offer free quotes online and give a person facts and information about home equity loans.
The person who makes you has no need for you The person who buys you doesnt use you The person who is using you doesnt know What are you?
A coffin
When a person dies is the remaining daughter responsible for the debt of credit cards?
No. The deceased person's estate is liable for any of the debts of that person, but heirs are not liable for debts if the assets in the estate are not enough to cover the debts.
Is the person who cosigned for a rental agreement liable after 2 years?
The signers on a lease are liable for charges during the term of the lease.
