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patsaccont · Joined: 03 Oct 2009 Posts: 5 1.84 Dollars($)

In Tennessee, how can a mortgage be given to one person on a piece of property owned by two peoplle. Husband and wife

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

If the property isoned by both the people then bothof them need to be on the loan,

In this market it si really necessary

leeelliot61 · Joined: 13 Sep 2009 Posts: 188 0.01 Dollars($)

Is it already done or are you asking way to do it?

pl make it clear.

patsaccont · Joined: 03 Oct 2009 Posts: 5 1.84 Dollars($)

It is already done but without the consent of one party.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Then you need to call the bank who gave the loan and tell them the real situation

If that does nto help, then needto consult an attorney

leeelliot61 · Joined: 13 Sep 2009 Posts: 188 0.01 Dollars($)

important thing is to be on deed & not one the mortgage.

i do not think that one who is not on mortgage is loosing any thing. so no need to worry.

patsaccont · Joined: 03 Oct 2009 Posts: 5 1.84 Dollars($)

I need to know if it is legal. The person not on the mortgage but on the title is still responsible for any association fees, repairs, etc. on the building.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Yes. The person not on the mortage but still on the property is equally responsible for makign payments on

property taxes

Association fee

Repairs - is not necessary

patsaccont · Joined: 03 Oct 2009 Posts: 5 1.84 Dollars($)

New York State does not allow a mortgage on property unless all names on deed are on mortgage. I was told by the title company that a mortgage in Tn was not legal unless all names on deed were on mortgage. Is this corret.

gmakerley · Posted: Sat Oct 03, 2009 1:52 pm Post subject:

in order for that mortgage to be valid, you both would have had to agree to it. check with an attorney - if you were not a party to this transaction at all, then there is a serious problem. don't bother calling the bank - they're the ones who goofed up to begin with - get an attorney to help you out.

patsaccont · Joined: 03 Oct 2009 Posts: 5 1.84 Dollars($)

thank you

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Property owned by two people