What recourse do I have, if ANY ? I was in a state of hardship last year. I trusted a friend to put their name on the title of my property, and now I recognize what a FATAL mistake that turned out to be. I owed him some money, but NO WHERE NEAR the value of what my home is worth. His name is NOT on my loan. He also currently has his OWN HOME at a different location, and has NEVER resided with me, and I am the ONLY one who is making payments!! If I get an attny, and claim emotional duress, is there ANY chance of removing this flake from my title. I have filed a restraining order against the guy because he has become violent, and emotionally abusive around my children.. Thanks for reading
2007-07-06 10:40:11 · 5 answers · asked by Denise 1 in Business & Finance ➔ Renting & Real Estate
"Emotional distress" probably won't work in a court of law, unless you have validated medical records which might lead a court to think that you were mentally incapacitated at the time you performed the title change.
You're correct. That was NOT a bright move on your part. You retained sole financial responsibility to make the mortgage payments, while simultaneously deeding half the value of the property to your 'friend'.
If the money here is quite substantial (which it apparently is) I recommend seeking qualified legal counsel for further guidance.
2007-07-06 10:45:26 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
you can without a doubt put someone on the deed for your home and not have them on your loan, we do it constantly, even if you arent taking out a new mortgage, a real estate attorney can file a deed for you, you only pay recording fees and maybe a processing fee for their office. find a good real estate attorney in your area and speak to them about it. but keep in mind, unless the person is deceased, anyone going on or coming off a deed must sign. meaning the flake has to sign themselves off
2007-07-06 23:43:09 · answer #2 · answered by voidtoreplace 1 · 2⤊ 0⤋
I am confused. Since there is a first mortgage how could you add your friend to the title without having them become part of the loan? Typically that would be a requirement.
Other than that, you would have to prove that your friend was acting in a fraudulent manner and coerced you to add them to your title to have any chance of removing them from the title.
2007-07-06 17:46:13 · answer #3 · answered by arimarismacon 3 · 0⤊ 1⤋
Yes your question is appropriately titled. If you signed away your property with no loan you were really dumb. You need to get a lawyer to help you figure out what to do to protect your interest in your property.
2007-07-06 17:50:21 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Im not sure under what terms you deeded him on your property but i am assuming he wants more than he lent you origionally.
he is not willing to budge at all or help you out as a friend, refinance and pay him off or something.
2007-07-06 17:45:36 · answer #5 · answered by Boston George 3 · 0⤊ 0⤋