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You did not sign your mortgage loan agreement but BS still released funds At what point is a mortgage deemed legally binding?
Wiki User
∙ 14y ago
You have an interesting situation. If you didn't sign the mortgage then the lender is in trouble. An unsigned mortgage is not enforceable. In many jurisdictions it is the mortgage that is recorded in the land records to provide notice of the mortgage lien. (Note that you may have also signed a separate note, however.)
If you received the proceeds the bank can sue you in court and the court may issue a judgment that reforms the mortgage to give it the same effect as if you signed it. The lender cannot foreclose in the case of a default unless the mortgage is reformed by a court decree. The courts don't like to see unjust enrichment but don't always correct mistakes. You should discuss the situation with an attorney who practices real estate law in your area.
Wiki User
∙ 14y ago
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what are Difference between a contract and an agreement?
a contract is LEGALLY BINDING, an agreement is not necessarily legally binding depending on the circumstances
Is a legally-binding agreement between two or more parties.?
A contract is a legally binding agreement between two or more parties.
What is another name for the contract of agreement?
A Legally Binding Agreement.
How much does it cost to come out of a legally binding joint mortgage if an ex is buying you out?
You cannot "get out of" a mortgage. The mortgage must be paid off and refinanced in the name of the new single owner. That issue should be addressed in every divorce agreement.
A is a legallybinding agreement between two or more partie?
A contract is a legally binding agreement between two or more parties.
What do you meant by contract?
A contract is a legally binding agreement.
What statement is true of an executive agreement?
It is not legally binding
How binding is a purchase agreement?
Contracts are legally binding on both parties to them.
When there is an agreement in principle is it legally binding?
Generally speaking, an agreement in principle precedes a contract. The contract is enforceable but the agreement is not.
Is a commitment legally binding agreement between the government and a contractor?
False
What can I do to cement an agreement between two parties and make it legally binding?
You can draft a contract that states the terms of sub-letting the office space, and get both parties to sign it. This will make the agreement legally binding.
What is a legally binding agreement that can be rejected at the option of one of the parties?
voidable contract.
