Posted on: 18th Oct, 2009 02:14 pm
my friend and I bought a property, he is the ONLY person on the mortgage and after he bought it he added my name to the deed within a dual member LLC. Now he is foreclosing on the property. Do I have any liability? Will the bank let me purchase it at a short sale? Can I get my name off of it at this point?
at this point you do not have any liability for the loan, but since your name is on the house, hey may not allow you to buy the house in short sale
you cna do a quit claim deed and get your off the property
make sure to notorize it and record it in the county office
you cna do a quit claim deed and get your off the property
make sure to notorize it and record it in the county office