Do all owners of undivided property have to sign a mortgage?

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Yes. An experienced, quality lender will require that all of the owner's sign the mortgage since the underlying principal of mortgages is that if there is a default the lender can take possession of the property by foreclosure. If there are multiple owners and only one signed the mortgage the lender could only foreclose on that person's interest in the property. It could not take possession of the property.

Ask around at your local banks for a better idea about what to expect for an answer. Beware of predatory lenders who will promise you anything and then empty your pockets for closing costs and fees.

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Can an owner that has a mortgage sell the property with owner finance?

The buyers attorney would arrange to have the title examined, find the outstanding mortgage in the land records and require that it be paid from the proceeds of the sale. Your

If you cosign for a mortgage and the primary owners no longer want the property can the cosigner become the primary owner if all parties agree?

You cannot make those changes on your own. Mortgages have "due on transfer" clauses that are triggered when there is any transfer of ownership. If the owners want to transfer

How do you forfeit your rights to your Undivided Interest and property owner associations?

If you purchased a property that has an undivided interest in common areas and that requires membership in a homeowner's association you cannot make any changes to either arra

If you are a co-owner of real property did not sign the mortgage and it's foreclosed can you be held responsible for a deficiency judgment?

If you did not sign the mortgage then you have no obligations relating to it. You are not responsible for any deficiency. If you owned the property at the time the mortgage wa

How is an undivided interest in property defined?

An undivided interest in real property is created when more than one person acquires the property by deed or inheritance. If two people are named as grantees on the deed they

Can a judge force a joint owner to sign a quit claim deed if there is a mortgage on said property?

You have not provided enough detail. However, a judge can rule that a party shall lose their interest in the property. The outstanding mortgage must be addressed at the same t

Can an owner of a life estate in Kentucky take out a mortgage on their property?

No. The life tenant no longer owns the property. The signature of the fee owners would be required as well as the signature of the life tenant. No. The life tenant no longer
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What happens if all owners did not sign mortgage and bank is now foreclosing?

The bank has a problem. It cannot foreclose on the interest of the owner who did not consent in writing to the mortgage. The mortgagor who didn't sign should contact the legal