Posted on: 11th May, 2006 10:27 am
My boyfriend and I just purchased a house and i am not on the loan does this give me any protection from having to leave the home and what happens to all the belongings in the home
Hi sarah,
Is your name on the deed?
Is your name on the deed?
Hi Sarah,
Welcome to MortgageFit Forums.
If your name is on the deed then you can enjoy your part of interest in the property and may transfer or sale your portion of interest.
But since there is a lien on the home, the value of the asset may get reduced. Talk to an attorney and get his suggestions on how to hold the property title so that your position remains secured.
God bless you.
For MortgageFit,
Samantha
Welcome to MortgageFit Forums.
If your name is on the deed then you can enjoy your part of interest in the property and may transfer or sale your portion of interest.
But since there is a lien on the home, the value of the asset may get reduced. Talk to an attorney and get his suggestions on how to hold the property title so that your position remains secured.
God bless you.
For MortgageFit,
Samantha
Hi,
I would like to make you aware that if your boyfriend fails to make payments then the lender can come after the house and fore close it. It won't help you to hold your portion at that time even if your name is not on the loan.
Angel
I would like to make you aware that if your boyfriend fails to make payments then the lender can come after the house and fore close it. It won't help you to hold your portion at that time even if your name is not on the loan.
Angel
I live in MI. I have broke up with my girlfriend, but we are both on the mortgage and deed of the house we are living in. We have been here about 4 years. Outside of the obvious personal problems, I would like to assume the mortgage and take her off of the deed.
Let's cut to the chase, I want her to move out and am to afford the house on my own. However, in fairness to her, I would like to give her 1/2 of the equity that has built up in this house as a way to smooth things over.
1. Can I legally do this.
2. If so, how do I go about doing this?
3. Assume this is done and I now am the only name on the title/deed, mortgage etc. Can I change the locks?
I want to be fair, but she isn't listening and will not work with me to resolve this. Do I have options?
Thanks.
retkw
Let's cut to the chase, I want her to move out and am to afford the house on my own. However, in fairness to her, I would like to give her 1/2 of the equity that has built up in this house as a way to smooth things over.
1. Can I legally do this.
2. If so, how do I go about doing this?
3. Assume this is done and I now am the only name on the title/deed, mortgage etc. Can I change the locks?
I want to be fair, but she isn't listening and will not work with me to resolve this. Do I have options?
Thanks.
retkw
hi,
i appreciate the way you want to deal with the situation. now, both of you have to come to a solution as dragging the problem further will increase complications.
if she agrees then you can buy her out of the deed through a quit claim deed. she can leave her interests in the house to you and you can make her the payments as per the mutual agreement.
regarding transferring the mortgage in your name, you can do it either through a novation or by refinancing the mortgage in your name.
talk to your gf first and then consult a lawyer for the process whatever the situation comes out.
blue
i appreciate the way you want to deal with the situation. now, both of you have to come to a solution as dragging the problem further will increase complications.
if she agrees then you can buy her out of the deed through a quit claim deed. she can leave her interests in the house to you and you can make her the payments as per the mutual agreement.
regarding transferring the mortgage in your name, you can do it either through a novation or by refinancing the mortgage in your name.
talk to your gf first and then consult a lawyer for the process whatever the situation comes out.
blue
I am not on the mortgage but I am on the quick deed. If my boyfriend died
where do I stand, do I have any rights to my home?
where do I stand, do I have any rights to my home?
Yeah you do have the rights on the home but if you want to be more safe then you can add yourself on the loan too.
Will we have to get a new loan?
I'm curious as to how to go about getting my name put back on the deed.
Can you be more clear about the problem. As far as the title deed is concerned, that is easy procedure. You need to go to the local registrar for the same and need to fill the title deed form.
I AM UNSURE IF MY NAME STILL APEARS ON THE DEED. I WAS TRICKED INTO SIGNING A QUICK CLAIM DEED. I WOULD LIKE TO KNOW IF I AM INTITLE TO PART OF THE PROPERTY. WHAT CAN I DO TO FIND OUT.
Hi Bee,
You can check the records at the county recorder's office to know if your name still appears on the title of the property.
One more thing if the quit claim deed was notarized and recorded then you will not be able to claim your rights on the property. And you will have to prove in the courts that you were really tricked into signing the deed so that it can be treated as invalid transfer of interest.
You can check the records at the county recorder's office to know if your name still appears on the title of the property.
One more thing if the quit claim deed was notarized and recorded then you will not be able to claim your rights on the property. And you will have to prove in the courts that you were really tricked into signing the deed so that it can be treated as invalid transfer of interest.
5 years ago a friend (not partner, no romantic involvement at all) and I purchased a single family residence in New Jersey to provide us with some tax shelter and to give me a more appropriate place for my daughter when she is with me. My friend and I are equally co-invested in the residence. My friend is looking to be released from his mortgage obligation with this property so he can engage in another real estate transaction. I have drawn up a Deed of Conveyance and a Property distribution agreement. There is nothing being contested and this is strictly a friendly dissolution of a joint real estate venture. I will then assume sole responsibility for the residence. Do I need to accomplish anything else? I am thinking refinancing now may not be a good idea. Is refinancing the mortgage even necessary at any point in this situation?
Hi MLWhite,
The deed of conveyance you've drawn up will help you in transferring the property ownership. It will not transfer the financial obligation. If your friend is on the mortgage and wants to be released from its obligation, signing a deed of conveyance will not help. You will have to refinance the loan in your name to remove him from the mortgage. If the mortgage is assumable and you have the financial ability to afford the payments, the lender may allow you to assume the loan in order to take your friend's name off it.
The deed of conveyance you've drawn up will help you in transferring the property ownership. It will not transfer the financial obligation. If your friend is on the mortgage and wants to be released from its obligation, signing a deed of conveyance will not help. You will have to refinance the loan in your name to remove him from the mortgage. If the mortgage is assumable and you have the financial ability to afford the payments, the lender may allow you to assume the loan in order to take your friend's name off it.