Points taken and I will look it up, thank you again.
Another concern is, if the sister actually fulfill her duty and takes over the house with a new loan. What about tax related items? Does my wife have to report the property taxes that was paid by her sister? Can my wife sell the house...
My wife doesn't want to escalate the situation but her sister has not communicated any time line on her coming in with a new loan. So I'm preparing just in case.
It's complicated but here's the breakdown.
Her sister had my wife sign as the sole borrower on the private loan. Not sure why but I'm thinking it's pure "taking advantage" of my wife and wants to live a luxurious life on someone else's credit.
There was no agreement, just that my wife signed...
Actually my wife is the sole borrower and only person on the title. I'm thinking reaching out to the private lenders and have them resale the house if necessary.
I really don't want to escalate the situation but her sister has been sitting on this issue for over a year.
Hi, my wife signed on a private loan for her older sister and I'm in the process to MAKE them take over the private loan. In case they don't comply with my demands since that my wife is on the loan and title, can we sell the house? Do we have full rights to kick them out?
duplicate post sorry.