Posted on: 03rd Jan, 2006 10:02 am
Hi,
We are buying a house from my husbands brother. The house is paid for and our brothers name is on the title. Is what we did was set up an escrow account who handles all the payments, taxes, ect.. and once the house is paid for (by us) then the title would be transfered to our names. Now here's the problem...... my husband got transfered to another town so we need to sell the home (this is fine with our brother). We have a gentleman who wants to buy the house but his financers are telling him they won't give him the loan because the title is not in our name. Our bank (where the escrow acct is) says it's not a problem that they will just pay off the escrow (whish goes to our brother) and transfer the title to the new owner.
Hope that explains it well enough....... What would your advice be on handling this matter?
We are buying a house from my husbands brother. The house is paid for and our brothers name is on the title. Is what we did was set up an escrow account who handles all the payments, taxes, ect.. and once the house is paid for (by us) then the title would be transfered to our names. Now here's the problem...... my husband got transfered to another town so we need to sell the home (this is fine with our brother). We have a gentleman who wants to buy the house but his financers are telling him they won't give him the loan because the title is not in our name. Our bank (where the escrow acct is) says it's not a problem that they will just pay off the escrow (whish goes to our brother) and transfer the title to the new owner.
Hope that explains it well enough....... What would your advice be on handling this matter?
Hi Vlsines,
This is a real problem at the time of transfer which already needs so many adjustments. I shall suggest going by the bank’s advice and accepting what they suggest.
But make sure to get back the amount paid by you as you will not own the home further. It's better to involve an attorney in the process so that you don't face any problems in the deal.
Regards,
Blue
This is a real problem at the time of transfer which already needs so many adjustments. I shall suggest going by the bank’s advice and accepting what they suggest.
But make sure to get back the amount paid by you as you will not own the home further. It's better to involve an attorney in the process so that you don't face any problems in the deal.
Regards,
Blue
After purchasing 50 acres from an estate, county contacts me saying that there is no current deed nor was there a deed from the previous owner. The previous owner always paid the tax on the property as I did last year. What should I do to claim this property.
Hi Back,
Did you get the papers on the property title with you. If you still haven't got it, then ask the previous owner to hand it over to you.
Next, consult a local estate attorney for verification of all the papers on the property for any possible disputes on the land. If there is any dispute then you can lodge a complaint with the previous owner.
If there is no such dispute on the property ownership, then you may contact the county with the papers along with your attorney.
Regards,
Blue
Did you get the papers on the property title with you. If you still haven't got it, then ask the previous owner to hand it over to you.
Next, consult a local estate attorney for verification of all the papers on the property for any possible disputes on the land. If there is any dispute then you can lodge a complaint with the previous owner.
If there is no such dispute on the property ownership, then you may contact the county with the papers along with your attorney.
Regards,
Blue
Hi Back,
How was the property transfer made? Did you get all the related papers verified? I think it's best to consult a lawyer immediately before things get worse.
Angel
How was the property transfer made? Did you get all the related papers verified? I think it's best to consult a lawyer immediately before things get worse.
Angel
I got married to a man I had lived with for a couple of years in March 05. He bought a house that we have moved into and sold another in October. He is the owner on the deed of the house we live in now and also is the only one on the mortgage. My past credit would adversely affect the mortgage so that is why I am not on the mortgage. What can we do to put me on the deed only. He is afraid that if he does the quick claim to me that he is giving me the deed to the house and he will still owe the mortgage.
hi candycane,
welcome to mortgagefit forums.
what i understand from here is that yours and yours husband's problems are different.
you want to keep your name only on the deed and your husband wants your name on the mortgage along with the ownership rights. am i correct?
this problem has to be sorted out amongst yourselves through mutual discussion. try to convince him so that he doesn't hesitate to include you.
you are newly married and discussions between both of you are always required to grow faith about each other. i believe strongly that both of you will mutually come to an understanding and solve the matter yourselves.
quit claim deed is the process by which you can have your name included in the deed and you are not going to owe the mortgage as a result.
so, for your part the solution is to be added in the deed through quit claim.
feel free to ask if you have any more queries. we shall be pleased to help you.
god bless you both.
for mortgagefit,
samantha
welcome to mortgagefit forums.
what i understand from here is that yours and yours husband's problems are different.
you want to keep your name only on the deed and your husband wants your name on the mortgage along with the ownership rights. am i correct?
this problem has to be sorted out amongst yourselves through mutual discussion. try to convince him so that he doesn't hesitate to include you.
you are newly married and discussions between both of you are always required to grow faith about each other. i believe strongly that both of you will mutually come to an understanding and solve the matter yourselves.
quit claim deed is the process by which you can have your name included in the deed and you are not going to owe the mortgage as a result.
so, for your part the solution is to be added in the deed through quit claim.
feel free to ask if you have any more queries. we shall be pleased to help you.
god bless you both.
for mortgagefit,
samantha
