Can I sell my house if my name is not on the mortgage?

Can I sell a house if my name is not on the mortgage?

Because the people who are listed on the title have full ownership of the home, they have full rights to sell the property, even if they are not on the mortgage.

What are my rights if my name is not on the mortgage?

Real estate owned prior to marriage remains separate property. … If your name is not on your home’s title for these reasons, you would not own the home; neither would you be held responsible for loan repayment or any other lien placed on the property, even if it resulted in foreclosure.

Do all owners of a house have to be on the mortgage?

Not all owners of a property need be obligated to a mortgage loan. Therefore, if you are an unmarried person but the owners of a property wish to put you on the house deed, this can be accomplished quite easily. To do this, you need only complete a quitclaim deed.

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What happens if you are on the deed but not the mortgage?

Remember this: regardless of whose name is or is not on the mortgage, if someone does not pay the mortgage, the mortgage holder (the bank, saving & loan, or another lender) can foreclose and take ownership of the realty regardless of whose names are on the deed.

Can my name go on the deed and not the mortgage?

It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances. Free and clear means that no one else has rights to the title above the owner.

How do you sell a house if one partner refuses?

If the co-owner is not willing to sell their share, they may be agreeable to buy your share. In either case, once the share is transferred the legal owner(s)has control of the property. Sell your share to another buyer. Legal ownership provides the right to sell the portion of the property specified.

Should I put my girlfriend on the deed to my house?

You should NOT put your girlfriend’s name on the house. You can change this AFTER you are married, IF you get married. You can have a separate agreement with your girlfriend that you will put her name on the house if you should get married, but DO NOT put her name on the deed now.

Can someone be on the title but not the loan?

The entire definition of a “mortgage” requires a borrower to be on title because a mortgage refers to a debt instrument or promissory note that is tied to real estate as collateral. If the borrower is not on title, the property cannot be tied to the promissory note. Buyers can be on title without being on the loan.

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What are my rights if my name is on the mortgage?

Generally, your name is on the deed to the home, then you you own an interest in it. The bank cannot foreclose since you did not transfer your interest to the bank. This means that you still own your share of the home. … The lender would only have the interest of the person who signed the mortgage (your spouse).

Who owns the home when two names are on the mortgage?

In the event you opt for two names on the title and only one on the mortgage, both of you are owners. The person who signed the mortgage, however, is the one obligated to pay off the loan. If you’re not on the mortgage, you aren’t held responsible by the lending institution for ensuring the loan is paid.

Does a deed mean you own the house?

A house deed is the legal document that transfers ownership of the property from the seller to the buyer. In short, it’s what ensures the house you just bought is legally yours.

Does being on a deed affect your credit?

A deed is the official paperwork of ownership of a piece of property. … Having your name on a deed by itself does not affect your credit.