Posted on: 01st Mar, 2010 06:57 am
hello! If two people are listed on a mortgage- 1 as the borrower and 1 as the co-borrower and are NOT a married couple, can one party sell the house without the other parties consent or do both parties have to be in agreeance to sell the home?
You left out the important part - are they both on Title?
Hi allibee,
Raymond is absolutely right. Being a borrower or a co-borrower does not entitle a person to any ownership right to a particular property. If the person is listed on the title, he has an ownership right to the property and he can sell the house. If he is not listed on the property, he is not a legal owner and hence cannot sell the property, no matter whether he is a borrower or a co-borrower.
Raymond is absolutely right. Being a borrower or a co-borrower does not entitle a person to any ownership right to a particular property. If the person is listed on the title, he has an ownership right to the property and he can sell the house. If he is not listed on the property, he is not a legal owner and hence cannot sell the property, no matter whether he is a borrower or a co-borrower.
