Legal Question in Real Estate Law in Texas
Child on Deed
Can a lender foreclose on a child if the note is in an adults name but child on the deed only? they can foreclose on the note but not the Deed right?
2 Answers from Attorneys
Re: Child on Deed
An attorney would need to look at the chain of title to answer your question.
Re: Child on Deed
The ownership of the house (title) and the obligation to pay (note) do not have to be the same. If the house was put up for collateral on the note (i.e. mortgage) and the adult owned it at the time, then the house can be foreclosed. The adult may have violated a 'due on sale' clause in the mortgage agreement (which prevents the transfer of a secured parcel.) There are potential criminal ramifications, if the adult is attempting to hinder a secured creditor, or if the loan was procured by fraud.
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