Do I actually own my home? This is an emergency!!!

undefinedWhat is the name of your state? Good Morning,
I live in Michigan state. Iosco county to be exact.
Here is my question. A year ago April, my Grandparents and myself bought a condo. Both of our names are on the deed. I did not qualify for a mortgage, so my family financed the condo with a home equity loan using their main residence as collateral. The condo that I live in has no leins agaisnt it. I have been making my portion of the HE loan payment, assoc fees, insurance, and taxes on the condo (although I am slightly behind in tax payments) We (family and myself) do not have anything in writing outlining any obligations financially on my part. First do I have to pay $$ to anyone. Can my grandperents kick me out? They want to. Also, how can I have them removed from the deed and title?

To avoid a tax foreclosure, those taxes need to be brought current. Else the property could be lost.

It is "owned" by the parties shown on the deed.

Frankly, whomever it is that has a debt against their property to finance your purchase is not likley to want to remove their names from the collateral until the HE line is paid up. Likely if you refi to pay off/close the HE line, your Grandparents would agree to deed out their interest to you at the closing, knowing the debt on THEIR property is being removed.

GPs can sue for partition and force the sale. You need to work something out with them financially to assure them you will take care of your financial responsibilities to them. Whether it's SOLD, or lost via tax FC, you would then need to be out.

And if you are having a hard time paying the taxes......

That's the problem you see. I have been paying everything on time on in the full amount, but then I had to spend the last three months of my pregnancy on bed rest. The baby is only tiny still and I have only just been back to work. I will catch up on everything but it is going to take forever. In the meantime my family is being very unreasonable, leaving nasty messages and such.

When I was single, I owned a condo and brought in a wonderful graduate student as a roomate. WE had a set of "houserules" and it worked very nicely for both of us. Of course, I screened each roomate as a LL would.

But that did help offset my cost each month for a couple years.

Mooshoo "Do i actually own my Home"

The least expensive way to remove your grandparents from the Deed and Title is a Quick Claim Deed. What you should do is take out a Home Equity Loan; your Grandparents will have to sign off on there Homestead Rights. (They don't have to be on the loan) Set up a separate agreement between you and them, stating once you pay them monies owed they sign the Quick Claim Deed. This will remove them from the Deed and Title. If you go through a Bank that has a no fee Equity loans this should only cost you around $100.00.
Your Grandparents can't make you move!

shani1975 said:

The least expensive way to remove your grandparents from the Deed and Title is a Quick Claim Deed. What you should do is take out a Home Equity Loan; your Grandparents will have to sign off on there Homestead Rights. (They don't have to be on the loan) Set up a separate agreement between you and them, stating once you pay them monies owed they sign the Quick Claim Deed. This will remove them from the Deed and Title. If you go through a Bank that has a no fee Equity loans this should only cost you around $100.00.
Your Grandparents can't make you move!

Click to expand...

Quick Claim Deed

There is no such thing.

shani1975 said:

The least expensive way to remove your grandparents from the Deed and Title is a Quick Claim Deed. What you should do is take out a Home Equity Loan; your Grandparents will have to sign off on there Homestead Rights. (They don't have to be on the loan) Set up a separate agreement between you and them, stating once you pay them monies owed they sign the Quick Claim Deed. This will remove them from the Deed and Title. If you go through a Bank that has a no fee Equity loans this should only cost you around $100.00.
Your Grandparents can't make you move!

Click to expand...

Excuse me, dear, but her GPs financed this jointly owned property by mortgaging their own property. Now the taxes are delinquent. They are ..off at their grandkid right now.

WHY do you think the GPS would agree to QUIT claim away their only leverage to get their money back?


And if they force a sale via a partition action, YES, the poster will be required to move!

nextwife said:

And if they force a sale via a partition action, YES, the poster will be required to move!

Click to expand...

So...how about a Slow Claim Deed?