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  1. #1
    firemystdl is offline Junior Member
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    I own deed, but not mortgage. Can I be forced to sell?

    What is the name of your state? Maryland

    Hi there,

    I own the deed to a house in Maryland. However, someone else has the mortgage in their name.

    They want me to pay full market value to buy them out.

    I think that since my name is on the deed, I don't have to pay them ANYTHING to buy them out, except take a mortgage of my own to pay what's left on the house.

    Is this correct? Or is there something else?

    Thanks!
  2. #2
    freespeech is offline Member
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    Lots more details needed.
  3. #3
    firemystdl is offline Junior Member
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    Some more detail

    I was living with my ex (not married, not common-law -- just regular bf/gf relationship).

    The deed to the house was put in my name, but not on either of the two mortgages.

    He's been paying the mortgages, but I've put roughly $60,000 into the house for upgrades and improvements myself.

    He didn't live in the house full time at all for the past two years, and doesn't plan to buy it (just wants me to sell)
  4. #4
    sefnfot is offline Member
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    it doesnt make sence how could someone else get a mortgage on a property that doesnt belong to him? or did you make a quit claim after obtaining the loan?

    speaking as a consumer

    if you are the only one on title of the property. then unless there is some other contract or agreement that says that you both are owners then i would consider it as if he was paying rent during the time that he was making payments. to me it doesnt matter if he had to get financing to rent/lease/live in the residence.

    if he stops making payements, if the loan is ONLY in his name then it will only hurt him.

    i had a similar situation: my grandparents had the loan on a property, my brother and i were on title. the BANK foreclosed, however, even though my brother and i were on DEED, the foreclosure and bank reporting did not go on our record, but only my grandparents.

    so as long as you can take over the current loan and or get the money to just payoff the loan you should be in the clear. but make sure he doesnt screw up the loan, because if there is a foreclosure proceeding then the bank will charge at least 25000 in fees. which will have to be paid to remove the bank position


    hope this helps...
  5. #5
    BelizeBreeze is offline Senior Member
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    Can any one of you say "Fraud"?
  6. #6
    sefnfot is offline Member
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    what fraud?
  7. #7
    BelizeBreeze is offline Senior Member
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    Quote Originally Posted by sefnfot
    what fraud?
    Go back and read the original post then you tell me. Or better yet, tell the mortgage company.
  8. #8
    HomeGuru is offline Senior Member
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    Quote Originally Posted by firemystdl
    What is the name of your state? Maryland

    Hi there,

    I own the deed to a house in Maryland. However, someone else has the mortgage in their name.

    They want me to pay full market value to buy them out.

    I think that since my name is on the deed, I don't have to pay them ANYTHING to buy them out, except take a mortgage of my own to pay what's left on the house.

    Is this correct? Or is there something else?

    Thanks!

    **A: stop confusing everyone. Why not tell us the COMPLETE story?
  9. #9
    freespeech is offline Member
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    Something is STILL missing or you have committed fraud somewhere along the line. One does not get a Mortgage or in this case two without having the loan secured by the property.

    This is why it is a very foolish thing to buy a home with someone without iron clad contracts as to what happens when the relationship falls apart. I am sure neither of you were smart enough to do that given the circumstances here.

    How much money has he put into the house?

    You didn't before hand but get an Atty now. You have not hit the lottery here as those loans are secured by this property and the institutions will fight for it even if you are the only one on the deed.

    Was that done when he filed a BK or had a judgment against him, an ex wife after funds? WHY was the deed in your name and loans in his?

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