Legal Question in Real Estate Law in Florida
This is in reference to a condo to be purchased in Palm Beach Countnty, Fla. (2nd question on the same property being asked today) I am 71 my son wants to purchase a condo in a 55 and older complex for me - he will not live there he lives in CT. He and I will be on the deed but only he will be on the mortgage. He is working with a mortgage broker in NYC and she is telling him we both have to be on the mortgage if we are both on the deed. I have never heard that before we have done that in CT and never had this problem. Can you please give me some advice on this. Thank you.
Asked on 5/24/13, 11:45 am
2 Answers from Attorneys
Barry Stein
De Cardenas, Freixas, Stein & Zachary
It is not unusual to require both parties to be on the mortgage and deed.
Answered on 5/24/13, 11:50 am
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