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4 years ago my boyfriend and I bought a house. The mortgage and the 2nd loan (equity Line) were put in his name only. I however was placed on the deed and avadavit only. Since then we have broken our engagement and he has stopped all mortgage payments. The bank is threatening to sue us both. What legal rights do I have since I was never financially responsible for the mortgage loan?
Optional Information: State/Country relating to Question: Indiana Already Tried: Nothing so far,
What legal rights do I have since I was never financially responsible for the mortgage loan?You are not legally responsible on the loan. However the bank can foreclose on the house to recover what is owed on the loan. The bank has a lien for the entire property if he defaults on the loan. The lawsuit generally means getting permission from the court to foreclose on the entire property. So you would lose ownership rights to the house but that does not mean you would be responsible on the loan since your name is XXXXX XXXXX those contracts.
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Why is my name on the lawsuit and how do I stop it? What documents can I send them proving I am not responsible?
Your name is XXXXX XXXXX lawsuit because your name appears on the deed to the house. They can't foreclose on the house if your name is XXXXX XXXXX deed. The loan document itself should be enough that you are not obligated on the loan. However you are still liable in terms of taking the house unless you remove your name from the deed.
Can I quick claim and remove my name from the deed at this point or is it to late since they have already filed suit? If not, what do you suggest?
Since there is a lawsuit you will need to let them know you are willing to quick claim to remove you from the suit. Otherwise, you may have to wait before the court to get the court's permission to allow this. I don't see why the court should deny this since you are not on the loan only the deed.
Experience: Attorney & Certified Mediator
Thanks alot, you've been helpful.
My pleasure, I wish you all the best.