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Displaying (2) Comments | Comment on this piece | Report objectionable art
You say you have no written ccrantot do you mean with each other? If there is a mortgage on the property with all three names, that is a legally binding ccrantot. Also, in some states and circumstances, an oral agreement, especially one that has been adhered to in good faith for a period of time, can be legally binding. Therefore, everyone who says contact a lawyer is on the right track.However, the name(s) on the mortgage are very important. If it's all three of you or a business owned by all three of you, you're stuck with each other, regardless of any agreement you may or may not have.References : Was this answer helpful?
By: | May 28, 2014 | Report Comment
By :By :But here's the kicker .To get soonmee's name off the home mortgage, you have to refinance. And with no equity, there's no refi. So even if one person wants to stay in the house and wait for the market to rebound, they can't unless the other party is stupid to keep their name on the mortgage. I really feel for anyone in that situation.Really? you can't get off with a quit claim deed?No, that just gets rid of the ownership.When you sign a note and deed of trust you are obligating yourself to pay. Do you really think you can after the fact just sign something else saying I decided I don't want to pay back the $350,000 I borrowed! ;-) Rate this comment: 0 0
By: | May 27, 2014 | Report Comment
HappyRainyDay
RKith593
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