Monday, June 23, 2014

If a wife is a borrower on a mortgage loan and the husband the co-borrower who owns the property and whose name will appear on the title whe...

Question

If a wife is a borrower on a mortgage loan and the husband the co-borrower who owns the property and whose name will appear on the title when mortgage loan paid off.



Answer

A property bought by a married couple during the marriage is owned by the husband and wife as tenants of the rntirety. Paying of the mortgage doesn't change the title. A certigficate of satisfaction which removes the mortgagre.

John



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