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    Lillymcrn22's Avatar
    Lillymcrn22 Posts: 1, Reputation: 1
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    #1

    Oct 10, 2008, 03:08 PM
    LOAN in our name, not the DEED
    My husband and I helped my son out several years back get a loan for some farm land he wanted to buy. About 2 years ago my husband signed something, which turned out to be a quick claim to have our name removed from the deed. My son and daughter-in-law told him he was signing something else at the time. Of course he trusted them. Now my son is unable to make the payments on the land and is basically going under. He refuses to sell the land (even though it's worth a lot of money) and refuses to have our name put back on the deed. What are out legal options at this point? We cannot make the payments and we can't even sell it because our name isn't on the deed. The bank said our name cannot be taken off the loan of course... he would have NEVER got the loan had it not been for us. This mess is basically ruining our life! What can we do?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Oct 10, 2008, 06:06 PM

    1.you let the bank foreclose, since it is worth more than the loan, they sell it and you should not owe anything

    2. your husband can sign "his" name off the deed, but can not sign "your" name off the deed. You may be able to sue to force your name back on the deed if it was on it, and if latter taken off without you signing
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