Posted on: 07th Mar, 2010 12:40 pm
My Girlfriends mom co-signed/borrowed on a home mortgage. My girlfriend and I have made the payments from the begininng, her mom has made no payments. I have bank records that can back that up. However, here is the kicker, my girlfriend and her mother are no longer speaking, and the mom, wants the home out of her name, and into the girlfriend and my name. She is threatening to force sale if it is not done faster than ASAP. I have extremely poor credit, thus the co-signer. Girlfriend has poor credit as well.
one other side note. right after taking ownership of the property, the well stopped working, and her mom paid to have a new well put in. I did not request her to do this, as the existing well just needed some work. I signed no agreement with her regarding it either.
So heres the questions:
1) Can she force sale if I cannot get refinancing?
2) Does she have a legal leg to stand on with regard to wanting me to pay her back for a well I never asked for?
3) Does she have any rights to any equity if any in this home that she didnt make any payments on?
If it's relevent, this is in Minnesota.
Thank You for any input.
one other side note. right after taking ownership of the property, the well stopped working, and her mom paid to have a new well put in. I did not request her to do this, as the existing well just needed some work. I signed no agreement with her regarding it either.
So heres the questions:
1) Can she force sale if I cannot get refinancing?
2) Does she have a legal leg to stand on with regard to wanting me to pay her back for a well I never asked for?
3) Does she have any rights to any equity if any in this home that she didnt make any payments on?
If it's relevent, this is in Minnesota.
Thank You for any input.
Hi Guest!
Welcome to forums!
Your girlfriend's mother is the co-signer of the property and I guess her name is also mentioned on the property deed. This will make her the owner of the property as well. Thus, she can try to sell off the property in order to release her name from the property and mortgage.
If there is no agreement signed between you and your mother-in-law, then she does not have any legal rights to ask for the payments. As she is the owner of the property, she can ask for a portion of equity from the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your girlfriend's mother is the co-signer of the property and I guess her name is also mentioned on the property deed. This will make her the owner of the property as well. Thus, she can try to sell off the property in order to release her name from the property and mortgage.
If there is no agreement signed between you and your mother-in-law, then she does not have any legal rights to ask for the payments. As she is the owner of the property, she can ask for a portion of equity from the property.
Feel free to ask if you've further queries.
Sussane