2007-02-08 12:57:20 · 5 answers · asked by Christian R 1 in Business & Finance ➔ Renting & Real Estate
You got it. If there is a mortgage you're both liable for it. And when it's time to sell, both have to sign all the paperwork.
2007-02-08 13:01:31 · answer #1 · answered by mustanger 5 · 0⤊ 0⤋
Yes, if there are two people on the deed, they both own the house. To sell, they both need to sign. To refinance or get a second, they both need to sign.
If there was a mortgage already in existence, then whoever's name is on the mortgage is responsible for the mortgage. Both on deed might not have responsibility for the mortgage. For example - somebody buys a house. The deed and mortgage are in their name only. They get married and have their spouse's name added to the deed. Now they both own it. They divorce and stop making payments - foreclosure occurs. Now neither owns a house, but only one has their credit ruined.
2007-02-08 13:42:13 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
Yes both people on the deed own a certain portion of the house.
2007-02-08 13:12:10 · answer #3 · answered by Skip 6 · 0⤊ 0⤋
yes 2 owners
2007-02-08 13:07:34 · answer #4 · answered by r1114@sbcglobal.net 4 · 0⤊ 0⤋
YES, AND TO SELL THE HOUSE BOTH OWNERS MUST SIGN OFF TO TRANSFER TITLE. BUT TO BE ON THE SAFE SIDE I WOULD CHECK WITH A REAL ESTATE ATTORNEY.
2007-02-08 13:34:26 · answer #5 · answered by ralph s 1 · 0⤊ 0⤋