Title Questions

ponce · Joined: 03 Jun 2007 Posts: 1 1.48 Dollars($)

0.10 Dollars($)

Posted: Sun Jun 03, 2007 6:32 pm Post subject: Title

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My husband and I have been living in my parents home in Alaska and paying the Mortgage for 18 years with the agreement that it would be our when payed off. They (my parents) moved back 10 years ago and told us they would build a cabin on the property because the house was ours. They tried to take out an Equity loan but had not found jobs yet so the banker suggested adding my Husband and I to the Title and having us get the Equity loan. That is what we did. Now with 4 years left on mortgage and equity loan with 2 payments left we (my Husband and I ) have a falling out with the Parents and they are kicking us out. Since we are on the title what are our rights? And can they remove us from the title without our knowing? I had posted this in the wrong area first time. Hope I have it in the correct area now.
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sara

Hi Ponce,

Welcome to the forums.

Your parents cannot kick you out in this way. This is because you and your husband are legally the owners of the house and your names are on the property. As such, you need not bother about losing the home. If at all, your parents continue going after you, then you may consult an attorney and take legal advice from him.

Take Care

Guest 0.10 Dollars($)

Ponce, did you inform the lender that your parents are planning to remove both of you from the home? The lender has a big role to play here. This is because the loan is yet to be paid off fully and I don't think your parents want to make the rest of the payments. So, in that case, this is really going to bother the lender and there is a possibility that he might have a talk with your parents in this regard.

Samantha

Hi Ponce,

Your parents cannot force you out of the house if your name is on the title to the property along with the spouse's name. And, by the way, did you sign a written agreement with your parents? If that is so, then how come they ask you to move out. That's simply not possible. And, they can't do it legally by any means because being the owners until and unless you two sign on a deed and give up your property, it cannot be passed on to any third party.

Hope this will give you some confidence to fight against this issue.

God bless you.

Samantha

0.10 Dollars($)

I'd touch base with a real estate attorney NOW. From what you said the title is NOT in your names exclusively – "added to title". What happens if parents deed their interest to a third party (would be hard to convey marketable title but still ….)

You might as well deal with the issues now in order to establish the relative equitable interests.

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

Ponce, they cannot remove you from the title but I should also let you know that as co-owners they can start a partition lawsuit to have the house sold and proceeds distributed among co-owners.

But I doubt they are willing to sell the house at this moment.

So you should rest assured that you ownership is secured. And they cannot do anything to remove you from title without your consent to it.

Miller

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