Posted on: 11th Aug, 2009 01:33 pm
OK I have a problem.
My mom wants to separate from my dad but knows that he will put up a fight, emotionally and financially if she tries to.
However, I MIGHT be able to help, if my reasoning is correct - I bought a condo in 2007. The loan is in my FATHER'S NAME ONLY. However, my name is the only one on the title. Now the loan of course is not paid back (I pay it every month). If I wanted to though, could I hand over ownership to mom (I can always rent here in the city) and my dad be forced to pay for it, given he would never let his perfect credit go awry? (He can't sell it because I own it).
This may sound scummy, but my father is scummy and would do everything in his power to make sure my mom was left with nothing.
My mom wants to separate from my dad but knows that he will put up a fight, emotionally and financially if she tries to.
However, I MIGHT be able to help, if my reasoning is correct - I bought a condo in 2007. The loan is in my FATHER'S NAME ONLY. However, my name is the only one on the title. Now the loan of course is not paid back (I pay it every month). If I wanted to though, could I hand over ownership to mom (I can always rent here in the city) and my dad be forced to pay for it, given he would never let his perfect credit go awry? (He can't sell it because I own it).
This may sound scummy, but my father is scummy and would do everything in his power to make sure my mom was left with nothing.
that would be an awful thing to do - yes, you said "scummy" and i agree.
i hope you don't resort to such a low thing. presumably, you and your mom are not "scummy" and that ought to prevent you from doing so.
i hope their situation can be ironed out without your having resort to such tactics.
i hope you don't resort to such a low thing. presumably, you and your mom are not "scummy" and that ought to prevent you from doing so.
i hope their situation can be ironed out without your having resort to such tactics.
No we're not. *HE'S* just an emtoionally abusive alcoholic. And I just want to look out for her.
i understand your rationale here. i will not, however, agree with you that such action would be proper.
Hi jwr!
Welcome to forums!
I agree with George that you should not go for such an action. However, if situation demands, you can definitely transfer your portion of the property to your mother. As the loan is in your father's name, he would be liable to pay it off. But you should remember that once you transfer the property to your mother, you won't remain the owner of the property. Thus, your father can take your mother's permission and sell off the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with George that you should not go for such an action. However, if situation demands, you can definitely transfer your portion of the property to your mother. As the loan is in your father's name, he would be liable to pay it off. But you should remember that once you transfer the property to your mother, you won't remain the owner of the property. Thus, your father can take your mother's permission and sell off the property.
Feel free to ask if you've further queries.
Sussane