Posted on: 20th Mar, 2013 11:59 pm
Hello there… My brother has bought a house which was once in foreclosure. Now my brother has requested me to add my name to the property deed. I need to know whether this is a good idea. If something happens to my brother, then will I be liable for the property?
Hi Guest,
If your name is added to the property deed, then you will become one of the owners of the property. If something happens to the property, you will definitely be liable for the property as an owner. You will be liable for the maintenance of the property.
Take care
If your name is added to the property deed, then you will become one of the owners of the property. If something happens to the property, you will definitely be liable for the property as an owner. You will be liable for the maintenance of the property.
Take care
welcome guest,
yes, you will be liable for the property. once you become the owner of the property, you will have equal responsibility like your brother. upon his death, you will be considered the sole owner of the property and you will be solely liable for the property. in such a situation, if there is a mortgage, then you will be have to refinance your mortgage in your name.
yes, you will be liable for the property. once you become the owner of the property, you will have equal responsibility like your brother. upon his death, you will be considered the sole owner of the property and you will be solely liable for the property. in such a situation, if there is a mortgage, then you will be have to refinance your mortgage in your name.