Posted on: 17th Nov, 2008 02:18 pm
Good Day:
Could you please tell me where I could find this info - what documents will it state how my mortgage is set up. Joint Tenancy or Tenants in Common.
I own a house with my mom and sister, my mom has recently passed away. The 3 of us are on title.
Could you please tell me where I could find this info - what documents will it state how my mortgage is set up. Joint Tenancy or Tenants in Common.
I own a house with my mom and sister, my mom has recently passed away. The 3 of us are on title.
As per above
Hi Lorie-Ann Green!
Welcome to forums!
You can have a look at the loan docs and find out the details about your mortgage. Apart from this, you can also contact your lender and get the details from him/her.
To know whether the ownership is in the form of a joint tenancy or tenancy in common, you should check the property deed. If its a joint tenancy, you will find the clause of "right to survivorship" mentioned there. If there is no such clause, then its tenancy in common. You can also show the deed to a lawyer who will also help you in understanding it.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You can have a look at the loan docs and find out the details about your mortgage. Apart from this, you can also contact your lender and get the details from him/her.
To know whether the ownership is in the form of a joint tenancy or tenancy in common, you should check the property deed. If its a joint tenancy, you will find the clause of "right to survivorship" mentioned there. If there is no such clause, then its tenancy in common. You can also show the deed to a lawyer who will also help you in understanding it.
Feel free to ask if you have further queries.
Sussane
Hi Lorie-Ann,
Welcome to our community forums.
The documents that will tell you how your mortgage is set up are the mortgage note or promissory note and the mortgage doc. Regarding what form of ownership you are in, you need to check your property deed.
Since the 3 of you are on the title and your mom is deceased, therefore, if there's a right of survivorship, then property will automatically pass on to you and your sister. Otherwise, you'll have to file an Affidavit of heirship and remove the mom's name from the title.
Regards,
Jessica.
Welcome to our community forums.
The documents that will tell you how your mortgage is set up are the mortgage note or promissory note and the mortgage doc. Regarding what form of ownership you are in, you need to check your property deed.
Since the 3 of you are on the title and your mom is deceased, therefore, if there's a right of survivorship, then property will automatically pass on to you and your sister. Otherwise, you'll have to file an Affidavit of heirship and remove the mom's name from the title.
Regards,
Jessica.
