Posted on: 27th Sep, 2010 05:45 pm
My husband and I own a two family house with his brother. His brother owes us a lot of money, and is not paying us back. his brother is on the mortgage and deed, but we are only on the deed. Are we legaly obligated to pay half the mortgage like we have been doing?
Hi ceceliamassimi!
Welcome to forums!
As your name is not mentioned on the property deed, you're not personally liable for the mortgage payments. The brother's name is mentioned on mortgage. Thus, he is liable for the loan payments.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As your name is not mentioned on the property deed, you're not personally liable for the mortgage payments. The brother's name is mentioned on mortgage. Thus, he is liable for the loan payments.
Feel free to ask if you've further queries.
Sussane