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How do you force a person who has filed bankruptcy and given up their interest in a property to sign a quit claim deed?
Wiki User
∙ 9y ago
You need to contact the trustee in bankruptcy. The bankrupt hasn't "given up their interest" unless they have already executed a deed. Their interest may be subject to the bankruptcy proceeding.
Wiki User
∙ 9y ago
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Can one person claim head of household and the other claim mortgage interest?
yes
If you have a home and you are buying a second home for investment is it better to refinance with higher rate or take a home equity loan?
Home equity Loans and Investment properties both come with high Interest Rates. However, if you were to claim bankruptcy with a rental property they would take the rental property and you can keep your home. Homestead law. On the other hand, if you file bankruptcy and have a second lien on your home you are still liable for payment and they would still take you rental property to pay off debt. (If their attorney is smart.) Depends on how stable your income is and if you have a chance of ever claiming bankruptcy. Ask yourself how big of a risk it is to get this investment property?
If you dont pay your property tax will that affect you in filing bankruptcy?
Well they just don't go away if you ignore them if that's what you mean. The taxes will be a claim, a secured claim, in your BK. It will affect what is availabel to pay others and may well affect your chances to save the property they are on.
Can a quit claim deeded house be repo'd if the old owner files bankruptcy?
This is a common question, especially when done as a form of asset protection. The ability for the bankruptcy courts to bring the real estate asset into the proceedings will depend on a few factors. A few of those being if the asset was transferred less then 12 months prior to the bankruptcy, do the "old owners" still live in the property, and/or if there is a mortgage or other debt for which the property is subject to. Lastly, there are some people that attempt to quit claim property as an attempt to hide or shelter assets, both in bankruptcy and divorce matters, and if the courts suspect such they can create a hold new legal problem for both the "old owners" and the new deed holder.
What is a mortgage lien?
Mortgage Lien - Is a legal claim against a mortgaged property that must be paid or assumed when the property is sold. The person who has the lien on the property can claim the property if the loan defaults. The mortage lien typically belongs to the lender in order to secure the mortgage loan.
Grantor verses the grantee in quit claim deed?
The grantor is the person who transfers their interest in the property by deed. The grantee is the person who receives that interest: the new owner.
Does a quit claim deed remove the person for life?
Yes. If a person signs a quitclaim deed they transfer their interest in the property to the grantee and no longer own the property.Yes. If a person signs a quitclaim deed they transfer their interest in the property to the grantee and no longer own the property.Yes. If a person signs a quitclaim deed they transfer their interest in the property to the grantee and no longer own the property.Yes. If a person signs a quitclaim deed they transfer their interest in the property to the grantee and no longer own the property.
Once a person signs a quit claim deed can they obtain interest in the property listed in any other way such as purchase etc?
A person acquires an interest in real property by a deed, court order or inheritance.
What is a title on a home?
A clear title indicates that no other person or other entity has any claim on the property or interest in the property and you are the absolute owner.
Can you quitclaim deed property to another person if their is more then one person on the original deed?
You can execute a 'quit claim' deed. It means that the person on the quit claim deed is giving all their rights to the property to the other person. It does not affect the rights of the other people on the deed.
What is a written claim to some peace of property?
A written claim to a piece of property is a legal document that asserts ownership or interest in the property. This document typically includes specific details about the property, the nature of the claimant's interest, and may be used to establish legal rights to the property.
Can someone quit claim a property they already had quit claim deeded to their wife?
Generally, no. When a person executes a quitclaim deed to another person, the first person no longer owns the property. The new owner is the grantee on the quitclaim deed. The former owner has no interest to transfer to someone else.In this case, the wife would be the new owner of the property.
If a Cosigner pays all of the the Home Equity Loan monthly payments does the Primary Signatory then get to claim the tax deduction on the interest paid or does the Cosignatory get such tax deduction?
You cannot claim a deduction for something you did not pay. If the primary signatory did not pay the interest, then this person does not get to deduct it. In order to claim a non-business/non-investment deduction for interest, the person claiming the deduction must (among other things) be the legal or equitable owner of the property. Usually, the cosignor is not the legal or equitable owner of the property, hence the cosignor cannot claim an interest deduction.
What is withdraw of objection to claim?
A Proof of Claim in bankruptcy is a court-filed document that registers a claim against the assets of an estate filing for bankruptcy. Any party in interest can object to a claim for reasons like lack of sufficient documentation or an incorrect claim amount. A withdrawal of this objection can be performed by said party to terminate the objection.
What is a clear title on a home?
A clear title indicates that no other person or other entity has any claim on the property or interest in the property and you are the absolute owner.
Does a person who signs a quit claim deed have right to the property?
Not necessarily, a quit claim deed just assigns all interest from one party to another. I can give you a quit claim deed to the Brooklyn Bridge, assigning you all of my interest in that property. The deed would be legal in that I am assigning all of my interest in the bridge, but you wouldn't have any more interest in the bridge AFTER receiving the deed than you did before, since I do not have any interest in the bridge. If there are other encumbrances against the property, a quit claim deed does not remove those encumbrances and in fact may result in the acceleration of a mortgage repayment, if a current mortgage exists against the property.A Quitclaim deed is often used when people want to change the wording on a deed or to enable the other party to sell the house without needing the signature of anyone else on the deed. I have seen them used to "clean up" the names on a title for the sale of a home or for refinancing. As stated above, the effects of a quitclaim do not eliminate the lien the bank has on the house if the house is not paid for. It does not remove or change the names on the mortgage and those people's responsibility to pay. Clarification:If the grantor on the quitclaim deed owns all the interest in the property in fee then YES you would acquire ownership of the property. If there were any liens and encumbrances you would acquire the land subject to them. In some parts of the country quitclaim deeds are often used to convey real property.
Can one person claim head of household and the other claim mortgage interest?
yes
