Printer Friendly
The Free Dictionary
989,164,413 visitors served.
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Family on deed to home, brother borrowed money

    0.04 sec.
Ask a Lawyer
Ask a Lawyer

Question

Country: United States of America State: New York Dear Sirs, My name, my brothers, my sisters, and my mothers name are all on the deed to my mothers house. About ten years ago we all signed a loan paper allowing my brother to borrow forty thousand dollars against the house. We recently discovered that he borrowed additional money against the house without my mother’s permission. There is now a lien on the house for one hundred thousand dollars plus interest. My question is " what can we do to prevent my brother from taking all the equity out of the house leaving my mother penny less.

Answer

Contact the lender--he is not allowed to pledge the property w/o agreement of all owners; or if he does it will possibly not be valid.

?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
Legal browser? ? Full browser
 
 
Legal Dictionary
?

Disclaimer | Privacy policy | Feedback | Copyright © 2008 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.