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When you cosign for a loan on real estate does your name go on the title of the property?
Wiki User
∙ 16y ago
Only if you're going to be one of the owners. A simple guarantor may have committed other collateral, and the lender would have you sign a separate security agreement naming the property being pledged.
Wiki User
∙ 16y ago
Wiki User
∙ 13y agoNo. If you're not already an owner of the property then you have simply volunteered to be completely responsible for paying the mortgage if the property owner defaults. You will be paying for property you do not own.
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Who is resposible for the loan if the title is in the deceased name only?
The estate is responsible for the loan. If it is not paid the bank will take the property.
Can you get a auto loan but put the car in someone else name?
You can cosign but both names will be on title.
How can you be a cosigner if the title is in the name of the person you cosigned for?
Many people cosign a loan for property they don't own. Many are uninformed of the consequences of cosigning. They don't realize they are agreeing to be completely responsible for a loan for property that belongs to someone else. If the primary borrower defaults on the loan and the cosigner must make the payments, the cosigner has no automatic right to the property.
If you are the executor and heir to an estate with no will can you take a loan against the said estate property?
If you are the executor and heir to an estate with no will, you can you take a loan against the said estate property, but not right away. Lenders typically will not give you a loan on a piece of property until it is in your name.
Is mortgage better than a loan?
A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.
Can an employer co-sign for a student loan?
Yes, an employer can cosign for a student loan. Any one can cosign for a student loan if they meet the requirements.
Can land inherited in a will be mortgaged as a title deed for loan purpose at a bank?
You cannot grant a mortgage on property you don't own. The estate must be probated so title passes to the heirs legally.
What is a loan to buy a property called?
A mortgage is a type of loan used to purchase or maintain a home, land, or other types of real estate. JLM Property
Can a minor cosign on a loan?
absolutely not. Minors are not able to cosign any loans, only an adult (eighteen years or older) is aloud to cosign a loan. the law states that any minor is not responcible for the repayment of any loan.
What do you do if you cosign for someone and they wreck the car and sell it but still owe on the loan?
When they get out of jail for selling property with a lien on it, and after YOU pay off the loan, you might consider NOT co-siging again.
Does a cosigner own the property if he pays off the original loan?
The cosigner of the loan owns 1/2 of the property if they are on the title.
What is it called when property is pledged to assure repayment of a loan?
That would be a secured loan and the property is called collateral.In the case of real estate, the borrower must sign a note and a mortgage.That would be a secured loan and the property is called collateral.In the case of real estate, the borrower must sign a note and a mortgage.That would be a secured loan and the property is called collateral.In the case of real estate, the borrower must sign a note and a mortgage.That would be a secured loan and the property is called collateral.In the case of real estate, the borrower must sign a note and a mortgage.
