Legal Question in Credit and Debt Law in South Carolina
In my divorce, I obtained the home (double wide) and the 6 acres it sits on. The deed to the land was signed over to me during the trial. However, the mortgage is still in my ex's name although I make the payments. The land is listed as an asset on the mortgage. My name is not on the mortgage at all. If I default on the loan (stop making payments), does the mortgage company have right to the land? Or are they only entitled to the home, since the land is now in my name? Thank you!
Asked on 9/22/12, 6:45 am
1 Answer from Attorneys
John Jackson
Law Office of John A. Jackson, P.C.
It sounds like the land was used as security to obtain the mortgage on the home. If so then the mortgage company has a right to take the land and the home no matter whose name is on the land.
Answered on 9/22/12, 8:33 am
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