What has to be done financially to make his name on the title only and what about the money my husband has put into the house does he get this back or how do they sort it out.
2007-11-27 13:47:22 · 3 answers · asked by Joanne N 1 in Business & Finance ➔ Renting & Real Estate
Don't agree to it without the other brother refinancing the property in his name only. Otherwise, your husband will remain financially liable for the mortgage should the other brother default for any reason. He would end up paying the mortgage with NO property to show for it.
As far as the split of monies put into the property, that will have to be an agreed upon amount between the two brothers. Any monies due to your husband should be paid to him at the time of refinance and closing.
2007-11-27 13:55:48 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
Your husband's brother can buy out his brother's share of the property. Call the lender & they can explain how it's done.
2007-11-27 14:16:31 · answer #2 · answered by !!! 7 · 0⤊ 0⤋
To get your hubby name off everything - his bro would have to buy out your hubby's equity share and refinance the loan so it's only in brother's name
2007-11-27 14:36:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋