First, yes, those involved will seek the assistance of an attorney.
But, because I have been around here so long, I am a generally nice guy, and this is such an interesting situation, can we talk about it?
Yes, it's in Texas, a community property state.
Here goes . . .
In 2004, my cousin and her husband assisted their daughter and son-in-law in purchasing a house. They were told at closing that their daughter would not be on the Deed of Trust, but that she would be on the Deed, which they were not shown.
Today I accessed the documents online and provided copies to her. It's the first time she has seen the Deed.
Contrary to what my cousin was told at closing, their daughter is not on the Deed. They (my cousin and her husband) and their son-in-law are on the deed. There is no wording in the Deed regarding percentage of ownership among the three of them, so it is the appearance that they are equal.
Their daughter is described on the Deed of Trust as a "Non-Purchasing Spouse", but there is no designation at her signature. My cousin, her husband and the son-in-law are on the Deed of Trust, and they are each described as Borrowers at their signatures
Since 2004, the son-in-law has not had a job and has not made many house payments, car payments, etc.. The daughter has had a job and has been the one making regular payments, with my cousin and her husband contributing, making maybe 40% of the house payments.
So, can we talk about, who owns the house, who can sell the house, who gets the proceeds from the sale of the house, and any other pertinent stuff, like can a house that was purchased as "Separate Property" become "Community Property" by being paid for from Community Property funds?
Thanks, I'll be watching
But, because I have been around here so long, I am a generally nice guy, and this is such an interesting situation, can we talk about it?
Yes, it's in Texas, a community property state.
Here goes . . .
In 2004, my cousin and her husband assisted their daughter and son-in-law in purchasing a house. They were told at closing that their daughter would not be on the Deed of Trust, but that she would be on the Deed, which they were not shown.
Today I accessed the documents online and provided copies to her. It's the first time she has seen the Deed.
Contrary to what my cousin was told at closing, their daughter is not on the Deed. They (my cousin and her husband) and their son-in-law are on the deed. There is no wording in the Deed regarding percentage of ownership among the three of them, so it is the appearance that they are equal.
Their daughter is described on the Deed of Trust as a "Non-Purchasing Spouse", but there is no designation at her signature. My cousin, her husband and the son-in-law are on the Deed of Trust, and they are each described as Borrowers at their signatures
Since 2004, the son-in-law has not had a job and has not made many house payments, car payments, etc.. The daughter has had a job and has been the one making regular payments, with my cousin and her husband contributing, making maybe 40% of the house payments.
So, can we talk about, who owns the house, who can sell the house, who gets the proceeds from the sale of the house, and any other pertinent stuff, like can a house that was purchased as "Separate Property" become "Community Property" by being paid for from Community Property funds?
Thanks, I'll be watching