Ask Experts Questions for FREE Help !
Ask
    chicatee's Avatar
    chicatee Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jan 19, 2012, 08:18 PM
    Deeds of property
    My house deeds are in my ex partners name well not yet as they still with the solicitors, the mortgage is in both names where does this leave me as we have spilt up.
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
    Uber Member
    		  
    #2

    Jan 19, 2012, 09:07 PM
    It depends... are you married? Live together long enough for a common law marriage where you live?

    Where DO you live?

    The deed and the mortgage are two separate things... if your name is on the mortgage, then you share liability to pay and if one doesn't they can come after the other. The deed to the house isn't always nor does it have to be in the names of the mortgage holder. But a smart person would get their name on it before they accept responsibility for the loan.

    What the ultimate answer is depends on where you live. Laws vary.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Jan 19, 2012, 09:24 PM
    It leaves you owning only 1/2 of the property, and gives the other partner equal rights to the property. One party will need to buy the other partner out.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
    		  
    #4

    Jan 19, 2012, 09:34 PM
    Quote Originally Posted by Fr_Chuck View Post
    It leaves you owning only 1/2 of the property, and gives the other partner equal rights to the property. One party will need to buy the other partner out.
    How you figure? I believe OP owns 0/2.
    chicatee's Avatar
    chicatee Posts: 2, Reputation: 1
    New Member
    		  
    #5

    Jan 20, 2012, 03:38 AM
    Ak Lawyer was do you mean regarding your answer
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #6

    Jan 20, 2012, 04:39 AM
    I'm somewhat unclear about the situation. You say the "DEEDS" (note plural) are in the partners name, but then you say not yet.

    Generally there is only ONE valid deed to a property, the one currently registered with the county. Now, if you signed a quit claim deed transferring your interest in the property to your ex, once that deed is registered, you will have no interest in the property. However, you will still be listed as a borrower on the mortgage and still have responsibility for that debt.

    So I wonder why your solicitor agreed to this. What SHOULD have happened is your ex should have obtained a refinance in their own name and when the refinance was closed, THEN you sign the transfer deed. This is usually done at the closing.

    Since you have a solicitor why aren't you asking them this question. They are more familiar with the circumstances and the local law.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Adding a relative to property deeds. [ 2 Answers ]

My nana has my 3 sisters and herself on her house deeds and wants her other 3 grantchildren listed on it as well , only to be told we cannot change the deeds at all . Is there only a certain number of people allowed on property deeds? Isn't nana able to add 3 more people to her deeds? Thank you

Property deeds [ 1 Answers ]

I have a document deeding property to a husband, his wife and their heirs. The wife died in 2002, the husband is ill and the six children are questioning whether the wording "their heirs" includes all of them. If in fact it does, does that mean that they do not have to process a quit claim deed...

Odd situation - Deeds and Property [ 8 Answers ]

I was researching a problem I have and stumbled upon this site and figured I'd give it a try. Edit: This is in North Carolina by the way. Here is my situation: My great aunt owned a home behind my current residence. It was my understanding that when she passed away, it was to be left to...

View more questions Search