Legal Question in Real Estate Law in New York

real estate

Mu daughter and her boyfriend then fiancee purchased a home Fall 2005. SHe was NOT put onto the mortgagee loan because of her debt to income ratio(her school loans) BUT she was put onto the mortgage deed. She verbally agreed to her boyfriend to pay $500 a month towards the mortgage. They split in Nov. 2006-and she moved to my(mothers) apartment and she did pay him the $500. for December in good faith. He has gotten nasty since then so she has not paid January since he verbally called off the wedding and she had put all their wedding deposits on her credit card-which she loses all deposits per the contracts. The ex called to say his lawyer is sending a letter than it will affect my daughters credit if the mortgage doesnt get paid. If she is not on the loan only the deed-is this true?

My daughter is away for a month and I have POA regarding the house.


Asked on 1/04/07, 10:57 am

3 Answers from Attorneys
Frank Pintauro Donohue & Partners, PC

Re: real estate

Simply being on the deed and not a signatory to the mortgage agreement should not obligate her to pay the mortgage. As for the agreement with the ex-boyfriend, its questionable whether it can enforced because it is not in writing. All agreements relating to real estate or agreements that cannot be fulfilled in less than a year must be in writing.

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Answered on 1/04/07, 11:20 am
Walter LeVine Walter D. LeVine, Esq.

Re: real estate

I GENERALLY AGREE WITH FRANK'S COMMENTS, BUT ADD THE FOLLOWING. WHILE MOST AGREEMENTS REGARDING REAL ESTATE MUST BE IN WRITING, SOME ORAL AGREEMENTS MAY BE ENFORCEABLE, ESPECIALLY WHERE THERE HAS BEEN PERFORMANCE, LIKE PAYING THE MONTHLY CONTRIBUTION TO THE MORTGAGE. THERE APPEAR TO BE CROSS-CLAIMS, BASED UPON THE WEDDING DEPOSITS, SO LITIGATION APPEARS TO BE NECESSARY. YOUR DAUGHTER SHOULD CONSIDER A SUIT FOR PARTITION OF THE REAL ESTATE, WHICH CAN CAUSE IT TO BE SOLD OR REQUIRE HE BUY OUT HER INTEREST, AND THIS MAY BE THE BEST WAY TO FINALIZE ALL DEALINGS BETWEEN THEM. IF THERE IS EQUITY IN THE PROPERTY, THIS MAY BE THE ONLY WAY TO PROTECT IT BEFORE THE MORTGAGE GOES INTO DEFAULT. YOU SHOULD CONTACT A LOCAL REAL ESTATE ATTONREY TO ASSIST. IF YOU DO NOT KNOW ONE, THE LOCAL BAR ASSOCIATION MAY BE ABLE TO MAKE SOME RECOMMENDATIONS. THIS IS A RESPONSE TO AN INTERNET QUESTION AND THE REPLY IS NOT INTENDED TO BE LEGAL ADVICE OR AS CREATING AN ATTORNEY-CLIENT RELATIONSHIP. OMITTED OR MISSING FACTS MIGHT CHANGE THE REPLY.

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Answered on 1/04/07, 11:51 am
Robert R. Groezinger GroezingerLaw P.C.

Re: real estate

The crdit issues go with the note and mortgage, not the deed. But, she can lose any interest in the house in the event of a foreclosre. For a sale, her signature will be needed....all owners must sign the deed on transfer.

Good Luck

RRG

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Answered on 1/04/07, 6:34 pm


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