Legal Question in Real Estate Law in Massachusetts

separating 2 houses on 1 deed and mortgage

I hold 1st mtge. Owner wants to separate houses, and wants me to sign release,and put mtge. on 1 house, so other has has no mtge.Hes responsible and paid on time 5 years now, 7 years remaining on note with $100k balance owed. House is worth more. should I sign off? Thank you, Marge


Asked on 4/03/07, 12:50 pm

1 Answer from Attorneys
florence hessen florence f. hessen,esq

Re: separating 2 houses on 1 deed and mortgage

Hi:

This may seem like a straight forward question which should result in a simple answer. Unfortunately, it is not.

I would need to know more info, in order to make a proper determination about securring your loan without impairing the title to the property.

You should speak with an attorney of your chosing to attempt to protect you from any negative consequences from this action.

Good Luck

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Answered on 4/03/07, 1:00 pm


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