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Generally no, all the owners of a property (and in many states their spouses) must sign a deed of trust or mortgage. The purpose of the mortgage is to give the lender the authority to take possession of the property by foreclosure in case of a default. When all the owners haven't signed, it's usually because someone (at a bank, title company or law firm) has made an error.

If a mortgagor defaults following a properly executed mortgage, the lender can take possession of the property by foreclosure and sell it. If all the owners (and spouses in some states) didn't sign the mortgage then the lender can take only the interest of the owner who did sign the mortgage and cannot take the interest of the owner who did not. Therefore, the lender could not take 100% ownership or possession of the property by foreclosure because it has no claim to the non-mortgagor's interest.

However, remember that what we typically call a "mortgage" involves TWO legal documents, a promissory note AND a recorded document called either a "deed of trust" or "mortgage" depending on state law. It is the promissory note which obligates the borrowers to repay the debt, not the recorded deed of trust or mortgage. The deed of trust/mortgage is the consent by the OWNERS of the property to use that property as collateral for the loan. The borrowers signing the note and the owners ("mortgagors") signing the mortgage do not have to be the same people (although in residential mortgages there is usually at least one person who is both a note borrower AND a mortgagor). It is not always possible to determine from the recorded mortgage who is responsible for the repayment of the note

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11y ago
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14y ago

While it is theoretically possible for two co-owners of a property to obtain separate mortgages, lending institutions are unlikely to provide such a mortgage because of the difficulties in enforcing the mortgage, should the need arise. A private lender might do so, but the interest rate is likely going to be significantly higher than it otherwise might be.

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16y ago

NO! To do so may be seen as fraud and could get you in a lot of trouble. One mortgage must always be sub-ordinate to the other. If the value of the property dropped drastically (say a pig farm moved in next door) one of the mortgage companies could loose their shirt. That is why one has to be primary and the other secondary.

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14y ago

A person who is not on the deed should never sign a mortgage. By doing so they are agreeing to pay the mortgage on another person's land. If the owner of the property defaults on the mortgage the bank will also go after the co-signer even if they don't own the land.

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14y ago

Yes but it's up to the lender.

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Q: Can two people be on mortgage and one person on deed?
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If two people are on the deed but only one is on the mortgage can the second person do anything to prevent foreclosure?

no,because that persons name is not on the deed .. unless the second person gives money to the person paying the mortgage


Can 1 person sell a home if 2 people are on mortgage but 1 signed over the deed?

The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.


Can someone place on a property lien if one person is on mortgage but two people on deed of trust?

Yes.


If one person is on the deed and two people signed the note can the person on the deed sell the property without permission satisfy the mortgage and collect the proceeds?

Of course. A person who signs a note and is not on the deed is simply a volunteer. They have volunteered to pay a mortgage on property they don't own if the primary borrower defaults. The owner of the property can sell the property and pay off the mortgage from the proceeds at any time.


What relief can the mortgagee receive if 2 names on the deed but only one signed the mortgage and the person not on the mortgage moved out and left the expense to the one whose name is on the mortgage?

Regardless of whose name is on the mortgage the property legally belongs to the person or persons named on the deed. The mortgage is only a financial obligation, the deed is a legal ownership document. Of course, if the mortgage is not paid the mortgagor can file a foreclosure action against the property.


One person is on the deed and two people signed the note . Can the person on the deed sell the property without permission satisfy the mortgage and collect the proceeds?

Yes. A person who does not own the property but signs the note is simply a volunteer. They have volunteered to pay the mortgage if the primary borrower (the owner of the property) defaults. Signing a mortgage for property you don't own is a very bad decision.


What happens if the mortgage and deed are in two names and one claims banckrupcy?

What happens if the mortgage and deed are in two names and one claims banckrupcy


Can you get a mortgage in Virginia with an agreement to deed the land to a person after the estate with no debts or liens is settled?

No. The mortgage Company wants their money. I think a mortgage lender could more help you with this one.


Can the Mortgage be in your name and deed be in both your names - not married?

A lender would require that all the owners of the property execute the mortgage. If only one person signs the mortgage and it is later foreclosed, the lender would only get that person't interest. Lender would want ALL the interest conveyed in the mortgage deed.


What happens if mortgage loan holder files for bankruptcy when the title has other people also?

If there are 2 people on the deed of trust and only one on the loan - then the person who has defaulted on the loan will have their credit negatively affected. The one who is only on the deed of trust will lose ownership to the bank or mortgage company, however, their credit will not be affected unless they co-signed or guaranteed the original loan that has defaulted.


Can a mortgage company revoke a quit claim deed?

If there is a mortgage, where both people have the responsibility to pay, they may opt to not accept the quit claim. Easiest thing to do is to refinance in one name.AnswerYour question needs more detail. A deed cannot be "revoked" by a mortgage company.


Can a house be foreclosed on if one name is on the mortgage and someone else s name is on the deed to the land or parcel?

That depends on whose name was on the deed when the mortgage was executed.