finance of people living together

mamerjjMarch 25, 2006

If anyone can give me some info it would be appreciated. My daughter was living with someone and they have a mortgage on a home together, but she is not on the deed of the property. She is in the process of moving out. What if anything can we do if he refuses to refinance or put the house up for sell. They have only lived their for about 7 months. Thanks in advance to anyone that can give me some information,

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She's on the mortgage but not the deed? Is that correct? Was there a special reason for that? I think we need more info.

    Bookmark   March 25, 2006 at 10:06AM
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We definitely need more information.

I lived with one boyfriend who had a major problem holding onto a job. Boring, lil' ol' me had a credit rating and the utilities were in my name. Mercifully, the landlord failed to uphold his end of the lease agreement and I was able to "break" it... rental agreement was in my name, too. I learned my lesson. And I was LUCKY my trusting nature didn't cost me more that it did. But I learned my lesson.

The helpmeet and I kept our finances scrupulously seperated until we married. Now, we are equally "on the stick", and that's fine; I flatly refused to have a joint checking account until we were married. We each paid our half of the utilities until we were married... two checks from two different accounts!

Until you are married in the eyes of the LAW I would counsel anyone sharing accomodations to have it SPELLED OUT LEGALLY. It is my own opinion that your daughter ought to see an attorney, ASAP. And she ought to keep her mouth shut around the boyfriend until she does.

    Bookmark   March 25, 2006 at 11:33AM
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In reply to your questions. I diffently agree she should not have done this, it was so stupid. She has had some major financial problems and the utility company would not turn on the utilities with her name on the deed. I can't even figure out how they got the mortgage with her name being involved. The above explanation is what I am being told, but he has also been a very controlling individual so it could have been a lie on his part. Thanks for the responses I did get.

    Bookmark   March 25, 2006 at 12:10PM
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EEK! just thought of this!

Maybe your daughter ought to leave a few things there... I'm thinking that a complete removal of her things and a complete evacuation might be seen as "abandonning" a property she is legally required to pay for.

Get her to a lawyer and do it soon.

I really hope you will keep us informed about this. It's an unpleasant situation, but one that is probably too common. Your follow up could prove very helpful to more people than you might suspect.

I hope everything works out OK; you must be worried sick.

    Bookmark   March 25, 2006 at 3:25PM
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Are you absolutely positive that her name is on the mortgage? I can't imagine that she would be able to qualify for a mortgage if her credit was so bad that the electric company wouldn't turn on the utilities.

    Bookmark   March 25, 2006 at 4:57PM
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I went to the court house and pulled up the mortgage and her name is on it. I sure don't understand how she was able to be on it with her credit also. I would have thought he would have had better luck without her rating. I will have her contact an attorney to make sure of her rights. When she gets things settled I will come back and give you the out come. If anyone is thinking about entering into a situation of this type, Please stop and think hard on it before going ahead. Once again thank you for the responsed I have received.

    Bookmark   March 25, 2006 at 10:15PM
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"I diffently agree she should not have done this, it was so stupid"

Would you have told her that if she decided to marry this guy? Buying a house with someone I would say is no worse that getting married to someone.

I should know. It happened to me.

I live with someone who I bought a house with. Yes both of our names are on the mortgage. We had been together 9 years (in the house for 3). We hit a rough patch, and I was considering moving and selling the home. He could have made it difficult. He probably wouldn't quit claim the house to me (which might be a good idea for your daughter to do).

After getting some legal advice, I was told that I could prove that I put the down payment and made payments (I WROTE the checks) and then anything after that, the profit would be split.

But we worked it out.

Does she have any investment into this house? Have her get legal advice. It couldn't hurt.

How long was she with this guy? Maybe by all accounts they thought they would be fine. No one knows what the future holds. When people get married, no one goes into it expecting to get divorced. If she was married to him, and wanted a divorce legal counsel would be needed. So don't be too hard on her. Go to a lawyer with her.

    Bookmark   March 27, 2006 at 9:27AM
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If she's on the mortgage, but not the deed...does that mean she's legally responsible for the payment, but has no rights to the house? Needs a lawyer, yesterday.

    Bookmark   March 28, 2006 at 8:22PM
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You saw that she's on the mortgage, but did you confirm she's not on the deed?

Both DH and I are on the mortgage and the deed for our home. Yet every day one or the other of us gets junk mail regarding refinancing, etc in one name or the other. Even some property records come up with DH's name only, even tho the home is jointly (legally) owned.

Maybe the other party is trying to pull the wool over your eyes? DEFINITELY see a lawyer.

    Bookmark   March 29, 2006 at 3:41PM
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i have never heard of being on the mortgage but not the deed. i know it can be the other way, as my wife is on the deeds for our house and her fathers house, yet is not listed on either mortgage. she was required to sign the deed of trust so that if i defaulted the mortgage co could take the house, although i hope that never happens!

i agree with the others, GET A LAWYER NOW. even if they stay together there needs to be some sound legal documents involved before something happens.

    Bookmark   March 30, 2006 at 9:46AM
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