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If i own my house and put someone elses name on deed, i know…

Customer Question
If i own my...

If i own my house and put someone elses name on deed, i know they own half, if it goes up for auction, and get only brings 60.000, but the paid off is 40.000, that would leave 20.000, is the other party in tiled to half or all of it?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

N.c

Lawyer's Assistant: Has any paperwork been filed?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

She put 60.000 to remodel some of house, but she has never paided one bill for 9 years, so she has really live here for free,

Submitted: 6 months ago.Category: Real Estate Law
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Answered in 5 minutes by:
1/2/2018
Real Estate Lawyer: Loren, Lawyer replied 6 months ago
Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 38,799
Experience: 30 years of real estate practice experience.
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Thank you for using JA. I am Loren, a licensed attorney for over 30 yrs., and I am here to help.

I am a certified expert on JustAnswer since 2009, with nearly 100% in 5 star ratings. So, we should be able to work through your problem.

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Real Estate Lawyer: Loren, Lawyer replied 6 months ago

They are entitled to a pro rata amount in accordance with their ownership, unless you have some sort of agreement with them stating a contrary arrangement.

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Real Estate Lawyer: Loren, Lawyer replied 6 months ago

Did you have further questions?

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Customer reply replied 6 months ago
if it goes to sell and only sells for 60.000 what happens after the 40.000 is paid off.
Real Estate Lawyer: Loren, Lawyer replied 6 months ago

The check for the net proceeds is issued to the owners.

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Real Estate Lawyer: Loren, Lawyer replied 6 months ago

Are you still online with me?

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