Legal Question in Real Estate Law in Florida
Name on a deed but not the mortgage
I moved into a house with a man and my name is not on the mortgage but it is on the deed. He took out mortgage insurance but did not name me as the beneficiary, he named his daughter beneficiary and the money doesn't have to go towards the mortgage. If something happens to him, is half of the house mine since my name is on the deed? He did say he would make me the beneficiary of the policy, but I still need to know what my rights are. Would I have trouble removing my furniture (most of it is mine)and personal items from the home if his daughter did not want me to? I don't have much, but I can't afford to lose the things I have. Would I be allowed to make the mortgage payments and stay in the house if I could since my name is on the deed?
Thank you very much for your help.
4 Answers from Attorneys
Re: Name on a deed but not the mortgage
Would have to see the deed.
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Re: Name on a deed but not the mortgage
Thee answer will depend upon how you were named in the deed. The deed establishes title, the mortgage is collateral for a debt. You want to find out the value of the property and the amount of the mortgage lien.
Re: Name on a deed but not the mortgage
Follow Messrs. Barger's and Slater's advice. Without reviewing the deed and learning the amount owed on the mortgage and the value of the property, no one will be able to properly counsel you on this matter.
Re: Name on a deed but not the mortgage
Unlike the others, I am more concerned with the insurance policy. I would have to see it prior to giving you a meaningful reply. It is highly unusual that the beneficiary of the policy is not the lender. Naturally,I too would want to see the deed.
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