Full question:
Built a house on my property,with out a lien on deed, we have defaulted on the loan, they want us to sign over the land deed over to them and we will be free of the mortgage? What do I need from them to be clear of this, with out giving my land and they pull a fast one and still owe the mortgage. They say we don't want a lawyer involved my wife and I are retired Srs, we are afraid to act with out advice.
- Category: Civil Actions
- Date:
- State: Florida
Answer:
Your obligations to the builder are defined by the contract you signed. Since you defaulted on the loan, they may seek legal means to recover the money you owe. It’s crucial to understand that if you sign over your land deed, you may still have obligations under the mortgage unless explicitly stated otherwise. The builder likely prefers no lawyer involved because it puts you at a disadvantage. We strongly recommend that you consult a local attorney who can review your contract, advise you on your rights, and discuss options like bankruptcy, which might help protect your assets, including your land. Your attorney can also clarify the implications of signing over the deed and ensure you are fully informed before making any decisions.This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.