Homeowner issues when not married

[Barbie c]

What is the name of your state (only U.S. law)? Florida


NOT married .Own a home together .Both names on the morgage for 17 years .What are my legal rights if my name is taken off the mortage

 

[Zigner]

What is the name of your state (only U.S. law)? Florida


NOT married .Own a home together .Both names on the morgage for 17 years .What are my legal rights if my name is taken off the mortage

You would still own the property. I suspect you aren't asking the proper questions. Why don't you give us a brief summary of what's going on?

 

[Banned_Princess]

As long as your name is on the DEED.


yes, we need more to the story.

 

[Barbie c]

we are looking into refinancing or selling the home .If we are not married and I am not on the morgage ,if say he decided to kick me out what would be my legal rights if i am not on the morgage - compared to if i am and the same situation for seling the home ?

 

[Zigner]

we are looking into refinancing or selling the home .If we are not married and I am not on the morgage ,if say he decided to kick me out what would be my legal rights if i am not on the morgage - compared to if i am and the same situation for seling the home ?

Are you asking about the MORTGAGE? (ie: the debt associated with the home) or are you asking about the deed? (ie: the document that shows your ownership of the property)

 

[Banned_Princess]

we are looking into refinancing or selling the home .If we are not married and I am not on the morgage ,if say he decided to kick me out what would be my legal rights if i am not on the morgage - compared to if i am and the same situation for seling the home ?

ARE you ON THE DEED TO THE HOUSE???????????????????

 

[Barbie c]

I am on the title.

 

[nextwife]

Is some loan officer telling you to sign a Quit Claim deed to do the refinance?

Legal advice: Don't take legal advice from a Loan Officer!

 

[latigo]

we are looking into refinancing or selling the home .If we are not married and I am not on the morgage ,if say he decided to kick me out what would be my legal rights if i am not on the morgage - compared to if i am and the same situation for seling the home ?

I am on the title.

What is the name of your state (only U.S. law)? Florida
NOT married .Own a home together .Both names on the morgage for 17 years .What are my legal rights if my name is taken off the mortage

You are in much need of a legal checkup. To do so let‘s begin at the beginning.

 You and the boyfriend have never been intermarried.
 The home was purchased in your joint names.
 In order get the purchase money for the property you each signed the mortgage note.

That ownership and lien status remains the same, as the county records will show the two of you as the recorded owners of the property subject to the outstanding purchase money mortgage.

Let’s stop right here for a moment because you need to be made aware of the special legal relationship existing between you and BF with regard to the ownership of the home. (The outstanding mortgage notwithstanding.)

When, as single individuals, you took the home in your joint names you created what is known in real property law as an “estate in co-tenancy” with your individual ownership interests known as “co-tenants” or “tenants in common”.

And that can be a very awkward, restricting, encumbering and often frustrating method of owning real estate.

The reason is that neither co-owner can sell, mortgage, lease, rent or in any way encumber or dispose of the whole unit without the other co-owner’s voluntary participation.

I trust I don’t need to explain to you the legal mess that this can cause when the personal relationship fails and the parties cannot agree as how to dispose of the home.

When push comes to shove, as it most frequently does, the only alternative available is an expensive, time consuming legal proceeding called “partition of real property”.

I won’t bore you any further on cotenancy law except to warn you not to ever consent to take your name off of the title by transferring your interest to other than a buyer at an agreeable price.

And make sure that if there is a future sale, that it is conducted through the agency of a licensed and bonded Title Company with written instructions directing the closing agent to remit your fair share of the net sale proceeds in your sole name!
________________

Concerning your question about being removed from the existing mortgage.

Understand that your name will not be taken off of the mortgage lien until its is fully satisfied.

Lastly, you mentioned something about a refinance of the existing mortgagee. Do not be suckered into to removing your name from the title simply to accommodate that proces and/or to avoid the requirement that as a recorded owner that you become personally obligated on the refinancing.