Posted on: 21st Jan, 2009 03:17 pm
Hi,
Here is my situation:
Two years ago I purchased my first home. While this is my home, both my mother's name and my name are on the title deed and thus both names are on the property tax bills that come through. This was done more so if something were to happen to me, the property was still hers, or should I want to transfer the property to her in the future if I got married.
I am the only borrower on the mortgage on the house and have been the one paying the property taxes for the house. Both always on time.
With the financial crisis my mother has found herself in financial trouble with her own home (her name only, I have no stake in those properties). We would however like to take her name off any paperwork on my home so I am not in danger of losing the property should she find herself in future financial problems. I know there is an option of a Quit Claim here. She has never claimed any financial stake in my home, nor paid any finances on it, or intended to claim it as an asset.
1) Can she still quit claim if she has defaulted on her own loans for her own property? My loan is not in default.
2) In taking her name off the title deed and property tax, am I protected if creditors were to go after her debts/homes?
3) What happens if she goes into foreclosure on her properties or bankruptcy in the near future?
4) Does her quit claiming transfer any of her debts onto me?
5) Is there a better option to protect my home here than a quit claim?
6) If she remains on the deed and loses her own homes, can the banks come after my property even though she is not on the mortgage?
Thank you
Here is my situation:
Two years ago I purchased my first home. While this is my home, both my mother's name and my name are on the title deed and thus both names are on the property tax bills that come through. This was done more so if something were to happen to me, the property was still hers, or should I want to transfer the property to her in the future if I got married.
I am the only borrower on the mortgage on the house and have been the one paying the property taxes for the house. Both always on time.
With the financial crisis my mother has found herself in financial trouble with her own home (her name only, I have no stake in those properties). We would however like to take her name off any paperwork on my home so I am not in danger of losing the property should she find herself in future financial problems. I know there is an option of a Quit Claim here. She has never claimed any financial stake in my home, nor paid any finances on it, or intended to claim it as an asset.
1) Can she still quit claim if she has defaulted on her own loans for her own property? My loan is not in default.
2) In taking her name off the title deed and property tax, am I protected if creditors were to go after her debts/homes?
3) What happens if she goes into foreclosure on her properties or bankruptcy in the near future?
4) Does her quit claiming transfer any of her debts onto me?
5) Is there a better option to protect my home here than a quit claim?
6) If she remains on the deed and loses her own homes, can the banks come after my property even though she is not on the mortgage?
Thank you
hi i have seperated from my partner 5 yrs ago we bought a property together with both names on the deeds.things havent worked out between us and i know wish to remove my name from the deeds the only problem is my partner has bad credit and wages arrestment and the bank say she cannot finance the mortgage herself.. so they are unwilling to go down this route to remove my name..our only option is to sell the house but my ex is refusing to do so..can i force the sale of the house
both names are on deeds she lives there and pays the mortgage i have nothing else to do with the house other than my name is on the deeds
Welcome steve,
As your ex is refusing to sell off the property, you can file a partition lawsuit. On filing this lawsuit, the court will judge the whole situation and order to sell off the property. Once the property is sold off, the mortgage will be paid off and the rest of the amount would be divided between you two.
As your ex is refusing to sell off the property, you can file a partition lawsuit. On filing this lawsuit, the court will judge the whole situation and order to sell off the property. Once the property is sold off, the mortgage will be paid off and the rest of the amount would be divided between you two.
I bought a home an my ex won't do aney thang wit the home I need her off the deed
Hi ryan,
If you want to remove your ex from the property, then she will have to sign a quitclaim deed in your name transferring the property to you.
Thanks
If you want to remove your ex from the property, then she will have to sign a quitclaim deed in your name transferring the property to you.
Thanks
Please Help! First time on here.
Question...
My mom has defaulted on here mortgage on her house in Orlando, FL. She is on the mortgage on my house in Johnson City, TN. but we are both on the deed on this one. She has already received letters from the bank and is meeting with a lawyer soon.
How will this effect my house?
Will they take my house to pay off her debt?
Question...
My mom has defaulted on here mortgage on her house in Orlando, FL. She is on the mortgage on my house in Johnson City, TN. but we are both on the deed on this one. She has already received letters from the bank and is meeting with a lawyer soon.
How will this effect my house?
Will they take my house to pay off her debt?
Hi Cat!
Welcome to forums!
If your mother's name is not on the property deed of your house, then your property will not be affected in any way. The lender will not be able to come after you for the dues.
Sussane
Welcome to forums!
If your mother's name is not on the property deed of your house, then your property will not be affected in any way. The lender will not be able to come after you for the dues.
Sussane
Unfortunately my mother is on the deed with me on my house. What will happen?
Welcome back Cat,
As your mother's name is mentioned on your property, then she would be considered as one of the owners of the property. If your mother's property is foreclosed and if she can't pay the deficient balance, then the lender can place a lien on your property to recover the dues.
As your mother's name is mentioned on your property, then she would be considered as one of the owners of the property. If your mother's property is foreclosed and if she can't pay the deficient balance, then the lender can place a lien on your property to recover the dues.
I HAD PURCHASED MY HOUSE WITH THE MOTHER OF MY KIDS 12YRS AGO. WE HAVE SPLIT UP 19MONTH AGO SHE HAS MOVED OUT AND HASNT PAID A CENT TOWRDS THE HOUSE I HAVE BEEN PAYING FOR EVERYTHIN. NOW SHE GOT EVICTED AND FORCED HER WAY BACK INTO MY HOUSE BECAUSE SHE SAID SHE HAS EVERY RIGHT THAT ITS ALSO HER HOUSE WHAT CAN I DO TO GET HER OFF THE DEED OR WHAT RIGHT DOES SHE HAVE IF ANY?
welcome miguel,
if your wife's name is mentioned on the property deed, then she would be considered as one of the owners of the property and will have the rights to stay in that property. you will have to ask her to sign a quit claim deed in your favor. once she does so, you would become the sole owner of the property. then you can ask her to leave the property.
if your wife's name is mentioned on the property deed, then she would be considered as one of the owners of the property and will have the rights to stay in that property. you will have to ask her to sign a quit claim deed in your favor. once she does so, you would become the sole owner of the property. then you can ask her to leave the property.
My mother passed away 1995. My father never took her name off of house deed. How do we get her name off and add my sister's name, who lives and takes care of him.
Hi gloZ,
Your father and you can file an affidavit of heirship at the county recorder's office and get the property transferred in your name. This will help you in removing your mother's name from the property. After that, you and your father can sign a quitclaim deed or a warranty deed and add your sister's name to the property deed.
Thanks
Your father and you can file an affidavit of heirship at the county recorder's office and get the property transferred in your name. This will help you in removing your mother's name from the property. After that, you and your father can sign a quitclaim deed or a warranty deed and add your sister's name to the property deed.
Thanks
My husband and his 4 sisters and one brother inherited there parents home,, it is falling apart and a Nuisances to the city in TX we live in MO . They ( city in TX ) want all kids to pay back tax's
one sister while living there was suppose to be paying them , she did not while the other kids didn, any ways now the city want my husband and other siblings pay for what ever happens to this house even talking about bulldozing it down ,all expenses to be paid by the kids , we don have any extra $ how do I get my husbands name off the house , before all this takes place and we owe money we cant pay
one sister while living there was suppose to be paying them , she did not while the other kids didn, any ways now the city want my husband and other siblings pay for what ever happens to this house even talking about bulldozing it down ,all expenses to be paid by the kids , we don have any extra $ how do I get my husbands name off the house , before all this takes place and we owe money we cant pay
Hi Dolores,
Your husband can sign a quitclaim deed and transfer the property to other owners of the property. This will release your husband's liability from that property and he won't be liable for the payments.
Thanks
Your husband can sign a quitclaim deed and transfer the property to other owners of the property. This will release your husband's liability from that property and he won't be liable for the payments.
Thanks