Other Debt Farm mortgage

[Penelope]

My husband and his brother farm together. My husband's brother lives on the farm, but my husband and I rent an apartment in town. My husband's brother went through a costly divorce about 10 years ago. It was costly for all of us and lots of court time. After that the brothers had an LLP drawn up. I was told to sign a paper that ended up being a document that said I was no longer on the deed, although it wasn't presented to me that way. At this time, they are consolidating loans and refinancing . Over $900,000 worth. The bank is demanding my signature on the mortgage . Do I have to sign it? I am not on the deed or the LLP.

 

[army judge]

My husband and his brother farm together. My husband's brother lives on the farm, but my husband and I rent an apartment in town. My husband's brother went through a costly divorce about 10 years ago. It was costly for all of us and lots of court time. After that the brothers had an LLP drawn up. I was told to sign a paper that ended up being a document that said I was no longer on the deed, although it wasn't presented to me that way. At this time, they are consolidating loans and refinancing . Over $900,000 worth. The bank is demanding my signature on the mortgage . Do I have to sign it? I am not on the deed or the LLP.

If you have any concerns about signing any legal document, consult a lawyer in your county.
The bank is likely trying to ensnare as many people as possible, but that's only a guess.
Some banks believe the more signers on a note, the more people they can go after if the loan were to ever enter default.
Again, I suggest ask a lawyer to review all documents and offer you a written explanation.
Normally that can be done for about $200 to $500 in MY area.
Your cost can be determined by visiting a few local lawyers and asking what would it cost for a legal opinion and explanation on ALL the documents involved.