Legal Question in Real Estate Law in Florida
If I am on the deed of a home but not on the mortgage note, can I be held liable or sued if the home is foreclosed on?
Asked on 3/24/10, 10:36 am
2 Answers from Attorneys
Leon Ferraez
Ferraez, LLC
There are some defenses you may raise, but if you are not liable under the note, then you are not liable for the amount owed. However, if there is a mortgage, the document that provides the real estate as security for payment of the Note, the holder of the note may foreclose on the property. You description raises some other questions, though that are beyond your initial question.
Answered on 3/29/10, 10:44 am
Lesly Longa
Longa Law P.A.
That's a tricky question. Even if you are not liable under the note or for the amount due, the home can still be foreclosed. Contact an attorney to ensure that all of your defenses are included in your Answer. Regards,
Answered on 3/29/10, 11:09 am