Legal Question in Real Estate Law in New Hampshire

Need change to Joint Tenants on deed

My father and brother paid cash for a vacation property in NH several years ago. The deed has them as joint tenants with 50/50 ownership.

2 years ago, my brother convinced my father to mortgage the property for $130,000, with both of them responsible for the mortgage. My brother received the $130,000 and spent it. My brother is still having financial difficulties and can barely pay the mortgage.

I approached my brother on the subject and was told the money was gone and that he assumed my father would die before he had to pay the money back.

Now, as a matter of principle, my father would like to prevent my brother from getting the home if something happens to him (Dad is 80 years old). My father would like to add our mother or another sibling to the deed so my brother does not simply wait for my father to pass in order to avoid having to pay the money back.

Is it possible to change a ''joint tenancy'' deed to either add another person, or change the deed to �tenants in common�? If it is possible, would he need the consent of my brother?


Asked on 9/23/08, 9:22 pm

1 Answer from Attorneys
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

: Need change to Joint Tenants on deed

There are several problems. The mortgage is a lien on the property, and the bank does not care who pays it. If no payment, the bank can and will foreclose. When you change the deed, there is a due on demand clause in most mortgages that says if such a change happens, the money is due right away.

You cannot deed another person's interest without their consent.

Ok?

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Answered on 9/23/08, 10:55 pm


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