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If you are on a mortgage you have to claim half of the interest by Texas law?

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Q: If you are on a mortgage you have to claim half of the interest by Texas law?
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Your name is on the deed to a house but not on the loan are you entitled to half of equity?

Yes. If you are a joint fee owner and you didn't sign the mortgage then your half interest is free of the mortgage.


I signed a quit claim deed because I was on the deed but not the mortgage and now the person on the mortgage and deed isn't paying but the banks are coming after me?

There are several factors that must be reviewed. First, you must check to see if the deed whereby you transferred your interest was recorded in the land records. Next, was the deed recorded before the new owner executed a mortgage in their own name. If that is the case then you are not involved in the property or the mortgage and the lender must foreclose on the mortgage and take possession of the property.However, if the property was owned by two people and only one co-owner executed a mortgage of their half interest then the bank made a grave mistake. It only has a half interest in the property. In the case of a default it would only acquire a half interest by virtue of a foreclosure.If you executed a deed conveying your interest to the other co-owner after they executed the mortgage then the mortgagor owns a half interest that's not subject to the mortgage. However, as stated above, you need to make certain the deed of your half interest was recorded in the land records so that you are not still listed as a record owner.If you find that you are still listed as a half owner in the land records the only correspondence you should receive from the bank is notice that it is foreclosing on your co-owner's half interest in the property. You have no obligations under that mortgage if you didn't sign it. However, you should arrange to have that deed transferring your interest recorded so the bank can identify the owner of the property.If possible you should consult an attorney who can review the situation, check the land records and confirm that you have no obligations regarding the property.


Can real estate property be split and half of it sold when house is still mortgaged?

It all depends on the description of the property covered by the mortgage. If the entire property was described in the mortgage the bank owns an interest in it. A half cannot be sold unless the bank agrees to partially release that portion from the mortgage.It all depends on the description of the property covered by the mortgage. If the entire property was described in the mortgage the bank owns an interest in it. A half cannot be sold unless the bank agrees to partially release that portion from the mortgage.It all depends on the description of the property covered by the mortgage. If the entire property was described in the mortgage the bank owns an interest in it. A half cannot be sold unless the bank agrees to partially release that portion from the mortgage.It all depends on the description of the property covered by the mortgage. If the entire property was described in the mortgage the bank owns an interest in it. A half cannot be sold unless the bank agrees to partially release that portion from the mortgage.


How do you explain what a refi is?

Refinancing your mortgage. Common reasons would be for a lower interest rate. Typicaly, to make it worthwhile, it would have to be for a half an interest point or more. Some people roll other debts into a new mortgage so they have one payment. Refinancing your mortgage. Common reasons would be for a lower interest rate. Typicaly, to make it worthwhile, it would have to be for a half an interest point or more. Some people roll other debts into a new mortgage so they have one payment. Refinancing your mortgage. Common reasons would be for a lower interest rate. Typicaly, to make it worthwhile, it would have to be for a half an interest point or more. Some people roll other debts into a new mortgage so they have one payment.


Do you have ownership rights to the house if you are listed on the deed but not on the mortgage?

Yes, but if your name was added to a deed after the owner granted the mortgage your interest is subject to the mortgage. If the mortgage isn't paid the lender will take possession by foreclosure and your interest will be wiped out.If the mortgage is paid and the house is sold you will receive half of the proceeds at the time of sale.


I am getting divorced and my husband is threatening to make me sell the house. What rights do I have to my home if my husband's name is on the title with mine however the mortgage is in my name alone?

You are in an extremely vulnerable position since you signed the mortgage alone and then granted your husband an equal interest in the property even though he had no responsibility for paying the mortgage. You own a half interest in your home and you are the only one responsible for the mortgage. You may be required to buy his interest if you want to keep your house. You need to discuss your situation with an attorney ASAP.You are in an extremely vulnerable position since you signed the mortgage alone and then granted your husband an equal interest in the property even though he had no responsibility for paying the mortgage. You own a half interest in your home and you are the only one responsible for the mortgage. You may be required to buy his interest if you want to keep your house. You need to discuss your situation with an attorney ASAP.You are in an extremely vulnerable position since you signed the mortgage alone and then granted your husband an equal interest in the property even though he had no responsibility for paying the mortgage. You own a half interest in your home and you are the only one responsible for the mortgage. You may be required to buy his interest if you want to keep your house. You need to discuss your situation with an attorney ASAP.You are in an extremely vulnerable position since you signed the mortgage alone and then granted your husband an equal interest in the property even though he had no responsibility for paying the mortgage. You own a half interest in your home and you are the only one responsible for the mortgage. You may be required to buy his interest if you want to keep your house. You need to discuss your situation with an attorney ASAP.


What is the advantage of having you name on deed but not resposible for mortgage?

if you acquired your interest be deed after the mortgage was granted:You are not responsible for the payment of the mortgage and default will not affect your credit record. However, if the mortgagor defaults on the mortgage the bank can take possession of the property by foreclosure and you will lose your interest as well.If you acquired your interest before the mortgage was granted but didn't sign the mortgage:You are not responsible for the payment of the mortgage and default will not affect your credit record. In the case of a default the bank can only foreclose on the half interest of the co-owner who signed the mortgage.


What are the legal rights of an unmarried couple to a home when they are separate and both their names are on the deed but only one is the mortgage holder for the house?

The answer depends on the details that were not included and its a complicated situation. In order for the lender to perfect their interest in the mortgaged real estate, all the owners must sign the note and mortgage.If your name was on the deed as joint owner before the mortgage was granted and only the other owner signed that mortgage then the bank can only foreclose on the co-owner's half interest if the mortgage isn’t paid. Your half interest would be free of the mortgage. Generally, if you own an interest in real property and don't sign the mortgage, the bank cannot foreclose on your interest in the case of a default since YOU did not transfer your interest to the bank.If your name was added by deed after the mortgage was granted then your interest in the property is subject to the mortgage. If the mortgage isn't paid the bank can take possession of the property. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage. That means if the sole owner of the property grants a mortgage and then transfers an interest in the property to another person, the bank can demand the full payment of the mortgage- immediately.If there is no issue with the mortgage being paid and if you acquired a half interest by a valid deed then you will be paid half of the net proceeds if the property is sold. You are also responsible for paying the property taxes.


Does my boyfriend have right to claim half of your house if you are not married and separate after 15yrs?

Unless he helped pay for rent or mortgage, NO!


Can one joint tenant with right of survivorship get a mortgage on the property?

Yes. If the lender agrees. Only a half interest could be included in the mortgage.However, an experienced lender would want all the owners to sign the mortgage in case there is a default. If only one owner signed the mortgage, the lender could only foreclose on that person's half interest. It would become a tenant in common with the co-owner. That half interest would be difficult to sell. In some states, if the mortgagor died their interest in the property would disappear and the surviving joint tenant would own the property free of the bank's mortgage.


Do you have claim to a house if your name is on deed but you are not married?

You have asked a complicated question. Many people execute a quitclaim deed to a partner or spouse after they have purchased and mortgaged their property. If that is the case, the original owner should notify the bank of the change in ownership and the bank may require the new co-owner to sign a consent to the mortgage. If the bank isn't notified, you acquired an interest in the property subject to the mortgage and the mortgagor has breached their mortgage agreement with the bank. The bank can demand immediate payment of the balance due on the mortgage and can take possession of the property if the mortgage isn't paid. Another possibility is that if the mortgage is paid on time and the bank does find out about the transfer to you and notify the mortgagor that they have breached the agreement then you own a half interest in the property. On the other hand, if two people own property by deed and only one granted a mortgage, the bank has only a half interest in the property. If the mortgage is foreclosed the bank will acquire only a half interest in the property.


Can a co-owner refinance a property without telling the other co-owner?

No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.No. A prudent lender will require that all owners sign the mortgage so that it can take the property by foreclosure if the borrower defaults. If only one signed the mortgage the lender can only take possession of a half interest in the property.