My parents are co-signers of a mortgage for my sister and her soon to be x-husband is living in the home and not making payments resulting in default to my parents. They want to sell it but he will not leave.
2007-11-30 06:14:49 · 8 answers · asked by jeremy l 1 in Business & Finance ➔ Renting & Real Estate
They can not be evicted, even if your parents were on title with them.
They are renters, this is legally their home, and they can not be evicted from it while it is legally theirs.
After the bank forecloses and becomes the legal owner of the home they can evict them, but in the mean time one owner/co-owner can not evict another.
2007-11-30 07:20:29 · answer #1 · answered by Landlord 7 · 3⤊ 0⤋
This is ONE ugly scenario. Your parents co-signed the mortgage, but are not on the title to the property ? They're screwed, since a co-signing of a mortgage is nothing more than a guarantee to make the payments if the main holder(s) of the mortgage default. It gives them no ownership interest, and they have no rights to evict the actual owner.
If your parents DO have ownership rights along with your sister and ex, it's a bit better, but not much. They will have to bring suit for a 'partition sale' to force the ex to sign off on the property.
Meanwhile, your parents either make the payments, or let the property go to foreclosure, neither of which is a pretty situation.
2007-11-30 14:23:02 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
You can't evict anyone because you are not a party to the transaction.
Your parents cannot evict, unless they are on the title...being on the mortgage is not enough.
I'm assuming that your sister is on the mortgage and the title since your parents co-signed for your sister, so she should be on the title as well...she needs to see a divorce attorney because if SHE LEFT the residence, in most states, that is considered abandonment, unless she left and then immediately filed b/c of domestic violence, and then the judge would have place an order for the living arrangements at that time.
If your parents are on the title, then they need to see a real estate attorney ASAP to see if they can get the court to force something.
2007-11-30 14:31:16 · answer #3 · answered by Expert8675309 7 · 0⤊ 0⤋
You can't "evict" someone unless you're a landlord and they are a tenant. At BEST, you're all equal partners here. The divorce will change NOTHING.
Your best bet is to invent a time machine, go back in time, and NOT co-sign for this loan.
If you're like me and still working on your time machine, the next best thing would be to find a way to make it worth while for him to leave.
I envision you talking to a lawyer really, really soon.
2007-11-30 21:15:25 · answer #4 · answered by Sagebrush Kid 4 · 0⤊ 0⤋
They are co-borrowers, not co-signers, and they are jointly liable for the loan. They are not his landlords, they cannot evict him.
About their only alternative is to refinance the home and get him off of the title but chances are he won't agre to release his interest anyway.
2007-11-30 14:29:44 · answer #5 · answered by mazziatplay 5 · 0⤊ 0⤋
no
get a lawyer that's the best i can tell u..
is he on the title..or you sister and parents if hes not then yes u can kick him out..
2007-11-30 14:24:16 · answer #6 · answered by leah 3 · 0⤊ 0⤋
Hire thugs to run him off.
2007-11-30 14:22:46 · answer #7 · answered by Anonymous · 0⤊ 0⤋
you have to get your parents consent to do that
2007-11-30 14:30:30 · answer #8 · answered by J O E 2 · 0⤊ 0⤋