Posted on: 10th Aug, 2008 01:58 pm
I have a joint in common deed with right of survurvoirship. the girlfriend is paying the mortgage,
Girlfriend is solely responsible for mortgage of house. I gave her 1/2 house cash so I have have no house payment and we have a joint in common deed with right of survivorship. She is responsible for paying off mortgage. If she was to die the house would be solely mine. My question is who is responsible for the mortgage if she was to die? Would the house have to be sold be to pay off the mortgage. Would I get my 1/2 house payment I payed her?? My concern is getting my money back if she would regretable die
Girlfriend is solely responsible for mortgage of house. I gave her 1/2 house cash so I have have no house payment and we have a joint in common deed with right of survivorship. She is responsible for paying off mortgage. If she was to die the house would be solely mine. My question is who is responsible for the mortgage if she was to die? Would the house have to be sold be to pay off the mortgage. Would I get my 1/2 house payment I payed her?? My concern is getting my money back if she would regretable die
Hi lrwllutt.
Welcome to the forum.
If your girlfriend dies then the property will be sold to pay off the mortgage. After paying off the mortgage you will get the remaining sale processed. BTW if you don't want to sell the property then you can take the mortgage on your name by refinancing.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
If your girlfriend dies then the property will be sold to pay off the mortgage. After paying off the mortgage you will get the remaining sale processed. BTW if you don't want to sell the property then you can take the mortgage on your name by refinancing.
Feel free to ask if you have any further questions.
Best of luck,
Larry