Legal Question in Real Estate Law in Colorado

My question is, Person(1) is the only one on the Mortgage to a property, but Person (2) is on the DEED, would Person (2) be legally obligated for the Mortgage payments if Person (1) were to dye?


Asked on 8/16/11, 10:46 am

1 Answer from Attorneys
Gary C. Johnson Attorney Gary C. Johnson

The mortgage holder has a lien against the property. If the mortgage is not paid then they can foreclose on the property without regard to there being a second person on the deed. However there are questions about whether they would be able to come against the survivor for any deficiency

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Answered on 8/16/11, 2:02 pm


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