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House Deeds and Sale Profit
abbie2009
Posts: 2 Newbie
I have a house with a mortgage but the deeds are not in my name as I had to sign these over when I moved out of the property, when the house sells, can I still request a % of the profit?
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Comments
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what do you mean? how do you have a house without being on the deeds? Are you still paying the mortgage even though you've moved out and signed it over to someone else?0
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I had a house which I used to the pay the mortgage for and was on the deeds. The other person on the deeds and on the mortgage but didn't pay it moved in when I moved out and started to pay the mortgage and I transfered the deeds into their name as my solicitor suggested. Now the house is to be sold so I am wondering if I will get any of the profits as I paid all of the deposit, fixtures and fitting etc.0
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What was the position when you transferred the deeds into this other person's name? Were you in negative or positive equity? Surely your solicitor at the time would have advised you want the implications of transferring the deeds over was? What happened with the mortgage? Presumably this was in your name at the time - was it paid off and a new one taken out by the new occupier or what?0
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Sounds very strange but from what you say the property is no longer yours.
So why should you receive anything when the property is sold?0 -
Unless a deed of trust was set up you are entitled to nothing. Bear in mind you are still liable for the loan plus any shortfall if the sale proceeds don't cover the loan.0
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