Legal Question in Real Estate Law in Ohio

My son in Southern Ohio lives with his finacee in her home. She was out of work and ran short of money. She re financed her house and since she did not qualify she added my son onto the mortagage. He does not own the home and his fiancee is sole owner of home. They have now broken up and not getting married. How could the bank give him a mortgage on a property he does not own? His former fiancee will not add him name on the title. Is this an enforceable contract? He has no financial interest in the property. Thank you, Gregory B.


Asked on 8/20/12, 8:21 am

1 Answer from Attorneys
John Sauter Cloppert, Latanick, Sauter & Washburn

A mortgage is a contract. In your son's case, it is a contract to repay a loan. A person doesn't need to own the property in order to co-sign on a mortgage. Yes, it is a valid contract. Unless a person is prepared to pay the full balance of a loan (or mortgage) one should NEVER co-sign on a loan.

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Answered on 8/20/12, 8:03 pm


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