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Does a Person Whose Name is on the Deed Need to Also Be on the Mortgage?

Does a Person Whose Name is on the Deed Need to Also Be on the Mortgage?

Q: How do I get a copy of my deed after paying off my mortgage?

After paying off your mortgage, you can obtain a copy of your deed from the county recorder's office where the property is located. You may need to provide identification and pay a small fee. It's advisable to request a certified copy to ensure it is an official document. Keep this copy for your records as proof of ownership.

Q: Can my parents loan me money to buy a house?

Yes, your parents can loan you money to buy a house. However, it's crucial to document the loan properly to avoid any misunderstandings or tax implications. A written agreement outlining the loan terms, including repayment schedule and interest, is recommended. This can help clarify the arrangement and protect both parties.

Q: Do you receive a deed when you pay off your home?

When you pay off your home, you do not automatically receive a new deed. However, the lender will typically send you a release of mortgage document, which confirms that the mortgage is paid off. You can then request a copy of your deed from the county recorder's office to update your records.

Q: When you pay off your house, do you get a deed?

After paying off your house, you do not receive a new deed automatically. Instead, you will receive a release of mortgage from your lender, indicating that the loan is paid in full. To obtain an official copy of your deed, you should contact your local county recorder's office.

Full question:

We are in the process of purchasing a home with my father in law. He is putting down the down pmt. and we are applying for the rest of the loan. Can he be put on the deed of the house without being put on the loan?

Category: Real Property
Subcategory: Sales
Date: 04/07/2025
State: California

Answer:

If a person’s name is on the deed, the bank will likely require that it be on the mortgage. However, a person does not typically have to be on the "Note" which is the promise to pay back the money borrowed to buy the house. The "mortgage" gives the bank (from which you take your loan to buy the house) the right to come after the house if the loan is not paid. All owners of the property will probably be required by the lender to be on the mortgage.

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.

FAQs

Do I own half the house if my name is on the deeds?

If your name is on the deed, you generally have an ownership interest in the property. However, the exact share you own can depend on how the deed is structured. For example, if the deed lists you and another person as joint tenants, you may own half. If it's a different arrangement, your ownership share could vary. It's important to review the deed and consult with a legal professional for clarity.

How do I get a copy of my deed after paying off my mortgage?

Can my parents loan me money to buy a house?

Do you receive a deed when you pay off your home?

What if someone's name is on the deed but not the mortgage?

If someone's name is on the deed but not on the mortgage, they still have an ownership interest in the property. However, they are not responsible for the mortgage payments. This situation can lead to complications if the mortgage is not paid, as the lender can still pursue foreclosure against the property. It's advisable to consult a legal professional for guidance.