My husband and I are both on the deed which I asked not to be but somehow ended up on it. I am not on the mortgage since my credit was bad and I have a fine I had to pay from previous action non-tax related that I just found out they put a lien on the property for. Can I get my name off the property so he doesn't have to pay for my mistake since the house is for sale now. Will the lien stay even if I relieve my ownership? Or is he stuck with it?
2007-01-31 14:57:03 · 5 answers · asked by Trisha 1 in Business & Finance ➔ Renting & Real Estate
I am not trying to avoid paying. They set up a monthly payment when I incurred this debt and I pay it on time every month. I do not however have a lump sum of 20,000.00 to shell out at time of closing. more than likely he'll have to take less than what he owes on the house to start with. I don't think HE should have to pay for a mistake that I made before we were married. I pay for MY OWN mistakes. My money hasn't paid for this house so why should it get taken from him?
2007-01-31 16:19:52 · update #1
Lien stays with the property. If you quit claim the deed the lien has to be paid prior to the quit claim. If the house is for sale just pay for the lien at the close of escrow. Quit trying to avoid paying for 'your past mistakes'. Pay off the lien and be done with the problem and get your creditors off your back.
2007-01-31 15:44:57 · answer #1 · answered by greenshirt 2 · 0⤊ 0⤋
The lien stays on the property and no buyer would buy it without that lien (and any others) being cleared at closing. You might contact the lien holder and ask for a "partial deed of release" whereas they get some of their money but not all of it. Sometimes they do it, especially if you have another piece of property to place another lien on.
2007-01-31 17:35:01 · answer #2 · answered by dreamgirl 5 · 1⤊ 0⤋
Property liens are based on the property. If you quit claim your ownership you may have issues with the mortgage company. In terms of the lien, the lien would still with the property until it is paid off despite your name being off it.
2007-01-31 16:52:25 · answer #3 · answered by John Rosa 3 · 1⤊ 0⤋
Your name will have to stay on it until the lien gets paid off. Don't think a quit claim deed can be issued with a lien on it.
2007-01-31 15:01:12 · answer #4 · answered by Anonymous · 0⤊ 1⤋
If he stop claims it to you, the loan comes due in finished immediately. JHe can not supply up his ttile pastime contained in the resources with out triggering this, because it has a lien on it (the loan). so as that would not artwork. final analysis is that it really is highly not likely you'll ever stay in that residing house lengthy time period. you may not get on the loan (it purely would not artwork that way), so it will should be probated faster or later at the same time as your dad dies, and on account that you'll not in any respect qualify for a loan in preserving which includes your impening different bankruptcies and yoru lack of icome, the residing house can should be bought to fulfill the loan. that is purely not yours.
2016-12-03 07:35:47 · answer #5 · answered by Anonymous · 0⤊ 0⤋