Posted on: 28th Jun, 2011 06:06 pm
my soon to be ex-husband and i refinanced our home in 10/10. i have the refinance papers with my name on them. he says i was never put on the title of the home, only him. he says i get nothing out of the equity of the home in the divorce. is this possible...to be on the loan and not on the title?
It is possible that a person can be a borrower and not an owner, so what he says could be correct.
You have resources to let you know what the situation is...you can check with the local registry of deeds (town clerk, county clerk, etc.), and they can help you determine what the title situation is. You can also contact the lawyer with whom you worked in buying this home and have the question answered.
Certainly, given that you're divorcing, your divorce lawyer can look into this. And it doesn't stop there - there's no reason why you can't go into divorce court and request that the judge look favorably on you in terms of a portion of equity - even if what he says is true.
Don't back down - don't give up - there are ways in which you can verify what he said or prove him wrong; and get what you ought to get in shared equity.
You have resources to let you know what the situation is...you can check with the local registry of deeds (town clerk, county clerk, etc.), and they can help you determine what the title situation is. You can also contact the lawyer with whom you worked in buying this home and have the question answered.
Certainly, given that you're divorcing, your divorce lawyer can look into this. And it doesn't stop there - there's no reason why you can't go into divorce court and request that the judge look favorably on you in terms of a portion of equity - even if what he says is true.
Don't back down - don't give up - there are ways in which you can verify what he said or prove him wrong; and get what you ought to get in shared equity.
Hi pattyje,
If your name is not mentioned on the title of the property deed, then you won't be able to claim ownership in that property. Though your name is on the mortgage, you won't be able to claim the equity.
If your name is not mentioned on the title of the property deed, then you won't be able to claim ownership in that property. Though your name is on the mortgage, you won't be able to claim the equity.
Patty,
You have a bigger issue at hand. You cannot have a mortgage and not be on title to the property. Unless your soon to be X forged your signatures and quitclaimed you from the title, there was some error or fraud involved. Contact your bank immediately and get a copy of all your loan docs. You need to find your original title company and find out why you are not on the title. When you financed this house, through a lender or bank, they are required to have a title insurance in place, showing the parties of the transaction, are on title.
You have a bigger issue at hand. You cannot have a mortgage and not be on title to the property. Unless your soon to be X forged your signatures and quitclaimed you from the title, there was some error or fraud involved. Contact your bank immediately and get a copy of all your loan docs. You need to find your original title company and find out why you are not on the title. When you financed this house, through a lender or bank, they are required to have a title insurance in place, showing the parties of the transaction, are on title.
Somehow, Chris, I suspect that hubbie is a blatant liar, preying upon Patty's gullibility and lack of knowledge to convince her that she's in an untenable situation.
I don't know how much success she'll have with her lender - these are not the sharpest of folk in good times, let alone in this tumultuous era. Contacting the title company, if they can be identified, will be a big help, as will that simple visit to the local recording office.
I think hubbie is going to be paying for this misleading foolishness pretty soon.
Patty, I hope you make doggoned sure that your lawyer is on top of all this.
I don't know how much success she'll have with her lender - these are not the sharpest of folk in good times, let alone in this tumultuous era. Contacting the title company, if they can be identified, will be a big help, as will that simple visit to the local recording office.
I think hubbie is going to be paying for this misleading foolishness pretty soon.
Patty, I hope you make doggoned sure that your lawyer is on top of all this.
>>Is this possible...to be on the loan and not on the title?
It's extremely remote - somebody made a big mistake if that happened.
It's extremely remote - somebody made a big mistake if that happened.
Actually, Guest, it's entirely possible and frequently the case. Often, two people (matters not if married, single, etc.) might get together to qualify for a loan, with both parties liable for payment; while at the same time the property might be owned by only one of the two.
Self employed, married borrowers often will cede title to a property to a spouse, rather than run the risk of having a business situation lead to a lien on said property.
And, at times, there are simply occasions on which a spouse doesn't desire to be an owner of the piece of real estate, yet agrees to share the borrowing responsibility in order to better qualify for the loan sought.
Self employed, married borrowers often will cede title to a property to a spouse, rather than run the risk of having a business situation lead to a lien on said property.
And, at times, there are simply occasions on which a spouse doesn't desire to be an owner of the piece of real estate, yet agrees to share the borrowing responsibility in order to better qualify for the loan sought.