Legal Question in Real Estate Law in Colorado

liability - tenants in common - repossession

My name is recorded on my aunt's property deed as a tenant in common. If she defaults on her loan(s) will the mortgage company come to me for payment? Am I liable, and if so, to what extent?


Asked on 12/27/06, 6:48 pm

1 Answer from Attorneys
Robert Murillo Pivotal Legal Ltd.

Re: liability - tenants in common - repossession

Morning,

If you are not on the mortgage or note, you are not financially responsible for payments on default. The company can, however, proceed to foreclose on the property if your aunt defaults.

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Answered on 12/29/06, 10:24 am


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