0
What else can I help you with?
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.
Do you have to go through probate if your wife is on the deed but not the loan and the husband dies?
If the deed is a survivorship deed then the property will automatically be the sole property of the wife and bypass probate. However, it will be subject to the mortgage unless you buy some type of mortgage insurance.If the deed is a survivorship deed then the property will automatically be the sole property of the wife and bypass probate. However, it will be subject to the mortgage unless you buy some type of mortgage insurance.If the deed is a survivorship deed then the property will automatically be the sole property of the wife and bypass probate. However, it will be subject to the mortgage unless you buy some type of mortgage insurance.If the deed is a survivorship deed then the property will automatically be the sole property of the wife and bypass probate. However, it will be subject to the mortgage unless you buy some type of mortgage insurance.
What does it mean if your name is on the deed but not the mortgage?
If your name is on the deed but not the mortgage, it means you own the property but are not responsible for the mortgage payments.
Can your mom buy a house for you if you filed bankruptcy?
Yes. But the deed and mortgage would have to be in her name. It would not be your property.Yes. But the deed and mortgage would have to be in her name. It would not be your property.Yes. But the deed and mortgage would have to be in her name. It would not be your property.Yes. But the deed and mortgage would have to be in her name. It would not be your property.
What rights and responsibilities do I have as someone who is on the deed but not the mortgage of a property?
As a person on the deed but not the mortgage of a property, you have the right to ownership of the property and the responsibility to maintain it. However, you are not responsible for the mortgage payments unless specified in a separate agreement.
Is a quitclaim deed the same as a mortgage deed?
No. A quitclaim deed transfers the property to a new owner permanently. A mortgage deed is a conditional deed that transfers title to the bank only until the mortgage is paid and then the bank must release its interest.
Can 1 person sell a home if 2 people are on mortgage but 1 signed over the deed?
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.
If your name is on the mortgage but not the deed do you own the property?
No. In order to be the owner of real property you must be named as grantee on the deed. If your name is on the mortgage but not on the deed you have obligated yourself to pay for real property you do not own. If the primary borrower defaults the lender will go after you for full payment of the mortgage yet you do not own the property.
Do you have to be married to have your name on the property deed in NJ?
No. If you are on the mortgage you should also be on the deed.
Do you own the property that your name is on the deed but not the loan?
If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.
Does a mortgage property also have a deed?
Yes. In order to be able to grant a mortgage the mortgagor must be the owner of the property. Ownership of real property is evidenced by a deed or a Certificate of Title.Yes. In order to be able to grant a mortgage the mortgagor must be the owner of the property. Ownership of real property is evidenced by a deed or a Certificate of Title.Yes. In order to be able to grant a mortgage the mortgagor must be the owner of the property. Ownership of real property is evidenced by a deed or a Certificate of Title.Yes. In order to be able to grant a mortgage the mortgagor must be the owner of the property. Ownership of real property is evidenced by a deed or a Certificate of Title.
How is a deed tied to mortgage?
People acquire the title to real property by virtue of a deed. The deed makes them the legal owners. If they want to borrow money from a bank in the form of a mortgage they must grant the bank an interest in the real property that is described in their deed. The property will be described in the mortgage exactly as it is described in the deed and will also recite a deed reference. Signing a mortgage and note gives the bank an interest in the property described in the deed. Any person who is checking that property in the land records will find that mortgage. In some states (lien theory states) the mortgage becomes a lien on the property that must be paid before the lien is released. In some states (title theory states) a mortgage is an actual transfer of the property to the bank. Language in the mortgage prevents the bank from doing anything with the property unless there is a default in paying the mortgage. If there is a default the bank can take possession of the property and sell it.
