Legal Question in Personal Injury in Virginia
Brother got sued lost case for 70k, he is on the deed of my house
My brother got in a car accident without insurance and lost a 70k lawsuit.
He owns his own home with very limited equity, his name is the only one on the mortgage loan and deed.
I own my own but have about 90k equity, but when we did the mortgage, his name was on the mortgage loan and deed for the sole purpose of getting it approved easier. He has never lived there and I am in the process of refinancing and getting him off.
Is my house or equity in any jeopardy here?
1 Answer from Attorneys
Re: Brother got sued lost case for 70k, he is on the deed of my house
Yes, your brother is legally considered a co-owner
and (at the very least)a so-called tenant in common (along with you)as long as his name is on the deed, and, therefore, his interst in this property could be subject to a lawsuit brought against him by his judgment creditor(the plaintiff who one the case for 70K).
Better get that refinancing done--and QUICKLY.
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