Posted on: 28th May, 2009 06:29 pm
my father-in-law quikdeeded a home to us three years ago. my husbands and my name are on title but the loan and the equity line on the home is still in my father-in-laws name. things are very rocky between the three of us now and i was wondering do my husband and i have nay legal rights to the home since our name is not on the loan or the equity line. also, does he have any legal rights with us? for example, can he throw us out of the home?
You are probably in the driver's seat here especially if your father in law is not on the deed. However, push come to shove he could probably get you out. Is he paying the loans or are you?
Since the loan is in your Father in laws name and if he is makign the payemtn then, you have the risk of loosing the house if he stops makign the payment.
If you are making the payment then you both will be better off by refinancing the loan in both of your names. Probably you will need your father in law to close the current loan.
If you are making the payment then you both will be better off by refinancing the loan in both of your names. Probably you will need your father in law to close the current loan.
