close
    if my name is on the house but not on the loan can i put a lien on the house for money owed

    +1  Views: 437 Answers: 2 Posted: 12 years ago

    2 Answers

    On the surface, this question sounds dumb.  In reality, it's not. 


    I think you could put a lien on the property even though you are a joint owner.  For example, if you and your sibling are tenants in common owner of the property, your sibling could essentially go out and get a loan for his interest (portion) of the property (typically, a prudent bank would require that the co-owner of the property consent to the loan agreement).  When your sibling defaults on the loan, there could be some complication subdividing the two portions.  Also, you could even act like a bank (and why not?) to finance his portion of the interest in the property.  Finally, if he defaults on the money owed, you could sue your sibling.


    If you are interested in Tenants in Common, click below to learn more:


    http://www.akaqa.com/question/q1919724587-What-are-tenants-in-common


     


     


     


     

    So you are putting a  lien  yourself ? Question for a lawyer .



    Top contributors in Renting & Real Estate category

     
    country bumpkin
    Answers: 49 / Questions: 0
    Karma: 3060
     
    ROMOS
    Answers: 54 / Questions: 0
    Karma: 2805
     
    Colleen
    Answers: 138 / Questions: 0
    Karma: 2565
     
    Ducky
    Answers: 33 / Questions: 0
    Karma: 2055
    > Top contributors chart

    Unanswered Questions

    mrlucky88digital
    Answers: 0 Views: 5 Rating: 0
    fun88197
    Answers: 0 Views: 10 Rating: 0
    ngocbaomedia835
    Answers: 0 Views: 10 Rating: 0
    smbetorg2
    Answers: 0 Views: 7 Rating: 0
    33WIN
    Answers: 0 Views: 13 Rating: 0
    ghplay888com
    Answers: 0 Views: 11 Rating: 0
    > More questions...
    455213
    questions
    720620
    answers
    763862
    users