Posted on: 04th Sep, 2009 01:47 pm
About a year in a half ago I bought a house with a friend as an investment property. After a year of living with her she moved out, long story, and stopped paying for half the mortgage. August 28 she went bankrupt and surrendered the house and the money she owed me for the mortgage (nice). The judge said Ok and things for her are being dropped.
However, she has not signed a quitclaim deed for the property. Does that mean she has rights to any future equity in the house? At this time there is no equity but if I stay there for a few more years there be equity (lets pray. Will she have rights to half of the equity money when I go to sell since she did not sign the deed?
Thanks,
Nick
However, she has not signed a quitclaim deed for the property. Does that mean she has rights to any future equity in the house? At this time there is no equity but if I stay there for a few more years there be equity (lets pray. Will she have rights to half of the equity money when I go to sell since she did not sign the deed?
Thanks,
Nick
if her name is there on the deed then surely she will have equity and can even sale also.
But if her name is not on the deed then it is not possible.
I hope you got the answer.
But if her name is not on the deed then it is not possible.
I hope you got the answer.
She is on the deed.
To make sure I understand. She was on the deed when we bought the house. So if she does not sign the quitclaim deed, but has surrendered the house in the bankruptcy and is not liable for the loan, she still has rights to the equity even though she has not made a payment for sine July 2008?
To make sure I understand. She was on the deed when we bought the house. So if she does not sign the quitclaim deed, but has surrendered the house in the bankruptcy and is not liable for the loan, she still has rights to the equity even though she has not made a payment for sine July 2008?
hi guest,
welcome to our forum.
in my opinion if you think that, she has rights of equity then try to sign quit claim deed earlier & remove her from equity rights. as you say her name not on deed so she has not any rights to sell property. if she troubling you for her share you can get help of court by your attorney. but legally she has not any rights on property.
as you say she filled bankruptcy & surrendered house then she is not eligible for property rights. this is one more point.
thanks & regards.
gunz.ijjistaff.
welcome to our forum.
in my opinion if you think that, she has rights of equity then try to sign quit claim deed earlier & remove her from equity rights. as you say her name not on deed so she has not any rights to sell property. if she troubling you for her share you can get help of court by your attorney. but legally she has not any rights on property.
as you say she filled bankruptcy & surrendered house then she is not eligible for property rights. this is one more point.
thanks & regards.
gunz.ijjistaff.
