Posted on: 16th Sep, 2010 03:24 pm
My ex-partner who is also the other owner of a house we own, has filed bankruptcy. Her name, however, is still on the mortgage. She has been working with an attorney to get her name off the property, even though her bankruptcy has gone through.
I'm on the deed but not on the paperwork for the property management company from whom she does business and rents the house. She has collected 100% of the rent income, (as I only learned that I was on the deed-- long story short, the original loan sold to a new bank, and my name was dropped, so I didn't think I was still on the deed, and now that she's declared and been accepted for bankruptcy, I've got a big problem).
The bank has agreed to do a deed in lieu, but, she refuses to give the tenants notice, saying that she won't act until her attorney tells her she needs to. Her attorney has told her (according to my attorney) that she needs to give her tenants notice. She also won't return my calls or call the bank back to set up the inspection so that the bank can proceed.
What are my rights?
I'm on the deed but not on the paperwork for the property management company from whom she does business and rents the house. She has collected 100% of the rent income, (as I only learned that I was on the deed-- long story short, the original loan sold to a new bank, and my name was dropped, so I didn't think I was still on the deed, and now that she's declared and been accepted for bankruptcy, I've got a big problem).
The bank has agreed to do a deed in lieu, but, she refuses to give the tenants notice, saying that she won't act until her attorney tells her she needs to. Her attorney has told her (according to my attorney) that she needs to give her tenants notice. She also won't return my calls or call the bank back to set up the inspection so that the bank can proceed.
What are my rights?
Hi ted_allstar!
Welcome to forums!
If your name is mentioned on the property deed, then you're one of the owners of the property. If the property is sold off then you should get your share from the sale proceeds.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If your name is mentioned on the property deed, then you're one of the owners of the property. If the property is sold off then you should get your share from the sale proceeds.
Feel free to ask if you've further queries.
Sussane