• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Finacee's mom will not move.

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

D

Drs1058

Guest
My financee's mom and financee bought a house together 18 months ago. Her mom has never made her share of the mortgage or upkeep on the house since moving in. It is a joint tenancy arrangement and both daughter and mother signed on the mortgage and are listed on the title. How can she get her freeloading mom out of the house since she pays for all the mortgage payments and upkeep on the house without selling the house? Her mom put in $30K as a down payment when they bought the house and she put in 15K down.
 


H

HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Drs1058:
My financee's mom and financee bought a house together 18 months ago. Her mom has never made her share of the mortgage or upkeep on the house since moving in. It is a joint tenancy arrangement and both daughter and mother signed on the mortgage and are listed on the title. How can she get her freeloading mom out of the house since she pays for all the mortgage payments and upkeep on the house without selling the house? Her mom put in $30K as a down payment when they bought the house and she put in 15K down. <HR></BLOCKQUOTE>

She can not kick Mom out of her own house. Mom is half owner. Have her buy Mom out for $30K.
 
D

Drs1058

Guest
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Drs1058:
My financee's mom and financee bought a house together 18 months ago. Her mom has never made her share of the mortgage or upkeep on the house since moving in. It is a joint tenancy arrangement and both daughter and mother signed on the mortgage and are listed on the title. How can she get her freeloading mom out of the house since she pays for all the mortgage payments and upkeep on the house without selling the house? Her mom put in $30K as a down payment when they bought the house and she put in 15K down. <HR></BLOCKQUOTE> Additional information. THe mom is heavily in debt and now wants daugther to move out and continue making all of the mortgage and upkeep payments on house. (What planet is her mom from). THe mom was offered the $30k, but refused to be bought out and wanted daughter to refinance house to get her out of debt ($50K debt). THe mom is not working with a full deck, but has a good paying job ($45K) and is the biggest deadbeat I have ever seen. Can any of these options be worked?
1. Can my financee move out and be released from the loan and her interest in the house? 2. Can my financee refinance house in her name and take over by severing the joint tenancy? 3. Can financee sue mom for back mortgage payments and get default judgment to take freeloading mom off the current title & mortgage? 4. What is financee's options with regards to the house if freeloading mom goes bankrupt , will they lose the house or will daughter be able to take over if she re-affirms the loan? There is only about 12,000 gain in equity in the house since they bought it. I am going to get some advice from a attorney, but thought it might be nice to know options before going in and paying for consultation. Thanks.

 
H

HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Drs1058:
Originally posted by Drs1058:
My financee's mom and financee bought a house together 18 months ago. Her mom has never made her share of the mortgage or upkeep on the house since moving in. It is a joint tenancy arrangement and both daughter and mother signed on the mortgage and are listed on the title. How can she get her freeloading mom out of the house since she pays for all the mortgage payments and upkeep on the house without selling the house? Her mom put in $30K as a down payment when they bought the house and she put in 15K down. <HR></BLOCKQUOTE> Additional information. THe mom is heavily in debt and now wants daugther to move out and continue making all of the mortgage and upkeep payments on house. (What planet is her mom from). THe mom was offered the $30k, but refused to be bought out and wanted daughter to refinance house to get her out of debt ($50K debt). THe mom is not working with a full deck, but has a good paying job ($45K) and is the biggest deadbeat I have ever seen. Can any of these options be worked?
1. Can my financee move out and be released from the loan and her interest in the house? 2. Can my financee refinance house in her name and take over by severing the joint tenancy? 3. Can financee sue mom for back mortgage payments and get default judgment to take freeloading mom off the current title & mortgage? 4. What is financee's options with regards to the house if freeloading mom goes bankrupt , will they lose the house or will daughter be able to take over if she re-affirms the loan? There is only about 12,000 gain in equity in the house since they bought it. I am going to get some advice from a attorney, but thought it might be nice to know options before going in and paying for consultation. Thanks.
Click to expand...
1) No, not unless Mom agrees and refinances the loan.
2) No, see #1 above.
3) Yes, Mom can be sued but a judgement would only cover back monies. The courts cannot order Mom off title and mortgage. Only a complaint for a partition sale would accomplish this upon the sale of the property.
4) In BK 7, the Trustee would order the property sold. Proceeds would be split between the Trustee and your fiance.
 
D

Drs1058

Guest
Final question "Homeguru". If fiancee is able to "buy-out" freeloading mom and later mom goes bankrupt, can BK trustee come back on fiancee and say property was transferred to protect asset? Latest development is that now freeloading mom received a legal complaint from a credit card company suing her for $26K and she has 30 days to answer. Freeloading mom does not want to sell the house which would free both and wants daughter to get a second mortgage to payoff her debts. Thanks for the help.
 
H

HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Drs1058:
Final question "Homeguru". If fiancee is able to "buy-out" freeloading mom and later mom goes bankrupt, can BK trustee come back on fiancee and say property was transferred to protect asset? Latest development is that now freeloading mom received a legal complaint from a credit card company suing her for $26K and she has 30 days to answer. Freeloading mom does not want to sell the house which would free both and wants daughter to get a second mortgage to payoff her debts. Thanks for the help.<HR></BLOCKQUOTE>

Excellent question. As long as there is a valid sale or transfer ie. fiance pays the $30K to freeloader and free deeds the home to fiance. Free uses the money to pay some bills and still files BK. That would not constitute a fraudulent transfer in BK Court.
 
D

Drs1058

Guest
Thank you for the insight Homeguru, but I need clarification. If fiancee pays her mom the $30K does the mom file a quit claim deed to release the property or does she just sign over the original deed to daugther? And what about the mortgage? Does the mortgage company have to be notified or can fiancee refinance later when she is less stressed about the whole thing? And if the free loading mom does go bankrupt still on the mortgage does she list the mortgage on her bankruptcy petition or since her interest is now satisfied by the transfer/sale does she not list it. Fiancee is trying to keep the cost down, that is why I am asking you more questions. Thanks for your help.
 
H

HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Drs1058:
Thank you for the insight Homeguru, but I need clarification. If fiancee pays her mom the $30K does the mom file a quit claim deed to release the property or does she just sign over the original deed to daugther? And what about the mortgage? Does the mortgage company have to be notified or can fiancee refinance later when she is less stressed about the whole thing? And if the free loading mom does go bankrupt still on the mortgage does she list the mortgage on her bankruptcy petition or since her interest is now satisfied by the transfer/sale does she not list it. Fiancee is trying to keep the cost down, that is why I am asking you more questions. Thanks for your help. <HR></BLOCKQUOTE>

Mom signs a Quit Claim Deed. The mortgage still remains in mothers name and she must declare it a liability on her BK petition schedule. Fiance must refinance to take Mom out.
Mom has a hard time with Math. even if fiance took out a second mortgage at 100% loan to value, the loan proceeds would not be enough to cover freeloaders debt. It would not even cover half. de Milo I think she is from Venus.
 
You must log in or register to reply here.

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top