The DEED is signed by the person SELLING the house and transfers the property to the new owner(s). If your name is on the deed as one of the owners, then yes, you have a right to some of the equity. But since you said CO-SIGNER instead of CO-OWNER, I think you signed the MORTGAGE, which is one of the loan documents.
"What if your name is on the DEED as 1/3 co-owner, you have never paid a penny towards the property, the property is sold, do you have rights to any of the equity?"
If your name is on the deed then you are entitled to your portion of the proceeds from any sale. In fact the property cannot be sold in its entirety without your signature. The other shares can be sold and then a partion can be forced if you are a minority owner.
If you are just a cosigner on the mortgage you have no rights to the equity in the property. However you need to be sure that your obligation is fully released if the property is sold.
lwpat http://www.speedingticketcentral.com
Yes. * No. Unless a cosigner is also named on the title to a vehicle or the deed to real property they have no legal rights or claim to said property.
No, a cosigner has no legal rights to the property unless their name is on the title or deed. A cosigner is accepting the responsibility of the debt if the primary borrower defaults; a co-buyer/borrower is a different matter entirely.
Any transaction can be initiated by either party, but the signatures of both will be required on the deed-in-lieu agreement and property transfer documents.
Only the owner by deed can sell the property. If two people are on the deed both must sign the new deed in order to sell the property.Only the owner by deed can sell the property. If two people are on the deed both must sign the new deed in order to sell the property.Only the owner by deed can sell the property. If two people are on the deed both must sign the new deed in order to sell the property.Only the owner by deed can sell the property. If two people are on the deed both must sign the new deed in order to sell the property.
No. If your name is not on the deed then you have no ownership and thus no equity.No. If your name is not on the deed then you have no ownership and thus no equity.No. If your name is not on the deed then you have no ownership and thus no equity.No. If your name is not on the deed then you have no ownership and thus no equity.
Yes. * No. Unless a cosigner is also named on the title to a vehicle or the deed to real property they have no legal rights or claim to said property.
No, a cosigner has no legal rights to the property unless their name is on the title or deed. A cosigner is accepting the responsibility of the debt if the primary borrower defaults; a co-buyer/borrower is a different matter entirely.
There are different reasons. In some cases the bank will take the property by a deed in lieu of foreclosure or simply by a quitclaim deed if there is equity in the property and the bank can resell it.There are different reasons. In some cases the bank will take the property by a deed in lieu of foreclosure or simply by a quitclaim deed if there is equity in the property and the bank can resell it.There are different reasons. In some cases the bank will take the property by a deed in lieu of foreclosure or simply by a quitclaim deed if there is equity in the property and the bank can resell it.There are different reasons. In some cases the bank will take the property by a deed in lieu of foreclosure or simply by a quitclaim deed if there is equity in the property and the bank can resell it.
No. If you are not on the deed, you can't sell the property. The only "right" you have as a cosigner is the obligation to make the payments.
The obligation of being a cosigner and the inclusion of the person's name on a deed are two different issues. Being removed from a deed does not relieve the cosigner of the financial obligation of the loan. In addition, a quit claim to property is usually necessary, the action needed depends upon the laws of the state where the property is located.
If you are not on the deed you have no rights in the property. If you are not legally married and the owner dies you have no legal rights in the property.
WHERE I WORK I HELP CLIENTS GET EQUITY LINES OF CREDIT AND WHEN I'VE DONE THEM WITH CO-SIGNERS, BOTH SIGNERS NEED TO BE ON THE PROPERTY'S DEED. YOU CAN SIMPLY ADD THE OTHER PERSON WITH SOMETHING CALLED A QUICK CLAIM DEED THAT AN ATORNEY OR TITLE COMPANY CAN DO.
Any transaction can be initiated by either party, but the signatures of both will be required on the deed-in-lieu agreement and property transfer documents.
If you acquire a property by deed then you will be the owner. You will have the right to the use, possession, income and profits from the property. You will have absolute rights in the property. You will also be responsible for the property.
The grantor cannot "cancel" a deed. Once you have covneyed your property by a deed the grantee is the new owner. You no longer have any rights in the property.
You could file a quit claim deed. It will not remove your obligations under the mortgage and since the quit claim means they get the same rights you have, it doesn't to any good, except if there is any equity in the property after the sale, they will get it, not you.
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.