"No Tenancy Stated" in TX

[temple]

Texas....two unmarried ppl (both on deed and on note) refinanced on a home in 2003...on DOT states "No Tenancy Stated"...what does this mean with ref to:

Abandonment of the home by one of the ppl

Not putting any $ toward the home for over 2yrs....note/taxes/hoa/maintenance, etc.

Same person filing ch 7 bk and hvg home exempt as homestead (although was not living there) and receiving discharge.....

Thanks to one and all....

 

[FlyingRon]

In most cases if there is no explicit tenancy, then equal shares of tenancy in common is assumed.

If you mean abandoning as moving out, very little other than losing some tax preference.

If you mean stop paying on the mortgage, then the mortgage company will foreclose on you both. They don't arbitrate who pays what.

The HOA can pursue you both for the payments do and further encumber the property.

You won't get the secured debt discharged in bankruptcy. The homestead exemption just keeps it from being forced to be sold for satisfying other judgments/debts. While you get some breathing room, if you fail to start paying the mortgage again after bankruptcy you will be foreclosed on.

 

[temple]

not discharged?

Thanks for your reply! Pls clarify what it means if a debt like this is "not discharged"??? I hve been keeping up the bills owed on the house myself for the last two years. I am listed on the creditors mailing matrix in the bankruptcy yet the trustee states I am "not a creditor". Given this, is there any way to ever sue him for the 1/2 the payments I have made and possibly use that as leverage in order to get him to deed his share of the house to me, rather than me having to buy HIM out?? (He has purchased land and a new home in the country) I want to keep the house. Thank you.

 

[HomeGuru]

Thanks for your reply! Pls clarify what it means if a debt like this is "not discharged"??? I hve been keeping up the bills owed on the house myself for the last two years. I am listed on the creditors mailing matrix in the bankruptcy yet the trustee states I am "not a creditor". Given this, is there any way to ever sue him for the 1/2 the payments I have made and possibly use that as leverage in order to get him to deed his share of the house to me, rather than me having to buy HIM out?? (He has purchased land and a new home in the country) I want to keep the house. Thank you.

**A: if you want the house you need to make the payments. All of them.

 

[FlyingRon]

To "discharge" in bankruptcy means the debt is eliminated (i.e., the creditor can not longer try to collect it). It's used to get rid of unsecured debts, things like credit cards and other bills, court judgments, etc... The secured debt holders just repo/foreclose. All foreclosure does is perhaps by some time by requiring everybody to STOP for a bit while the court figures out what's going to happen next.

As homeguru points out, if you want to keep the house the mortgage has to be kept current.

If you want to sell the house, you can force the issue legally even if the other guy doesn't want to sell.

Absent some other contractual arrangement, getting him to pay half of everything is going to be very difficult.