What Rights DOES A DEED GIVE ME
What rights do I have if I have a deed with my name and the vaule of the property is $100,000. But the morgage loan does not have my name on the loan. The reason I ask this question becasue my mother signed the property (house) over to me and now there is a dispute because I invested over 30,000 and I would like to take a loan out on the home, but my mother says that I have no rights and she desires to remove my name.undefined
If your mother signed a deed over to you then you own the property. Did you file the deed? If not then I would file it as fast as possible. It doesn't matter who is on the loan. You will not be able to get a loan if the deed is not filed.
Tom
The deed was filed and I hold the orginial deed, but there are many questions I have becasue of my age. My mother and I are in a battle becasue of this. I would also like to know if I pay the entire loan today (13,000) is there a title to be issued by the bank and who does the bank issue the title to.
Helllpppppppp pleaseundefined
[addsig]
There is no title. You seem to be getting this confused with buying a car. You pay off the loan then the mortgage company will take off the lien against your house. You own the house. How old are you? If you are old enough to get a loan then there shouldn't be a problem with the house.
Tom
First is your mothers name still on the deed along with yours? Second, the right thing to do is consider your mothers feeling about the issues of selling the home, Is this what she wants?
more deatils if you want to post would help.
What I understood is Mom gave you the property by signing over 100% interest by deed. and that was subject to an exisiting lien (13K I think you said) that is in someone elses name.
If that's the case, if you pay the off the existing loan, you'll own the place free and clear.
Or if you want out, you can sell the place for 100K, pay off the loan, and have 87K.. WOO HOO!
If that's not the case, what is?