Monday, December 28, 2009

Can one spouse sell the home if only their name is on the the loan in the state of Mississippi?

My name is only on the deed of trust not the loan. Can the spouse whose name is only on the loan sell and get profits from the home without given the other spouse half of the profits?Can one spouse sell the home if only their name is on the the loan in the state of Mississippi?
The property can not be legally sold unless both of you agree to sell the house.





Once you have agreed to sell the house and if it sells the escrow closing office will issue one check in the name of both sellers after all debts, liens, taxes and any other debts on the property are paid.





The division depends on how title is held by you and your spouse.





The sellers may ask for two separate checks in the event of a conflict, but that will have to be a part of the escrow settlement documents called escrow instructions.





It does not matter that your name is not on the mortgage. They are to entirely different documents.





You can be on one document without being on the other document.





I hope this has been of some use to you, good luck.





';FIGHT ON';Can one spouse sell the home if only their name is on the the loan in the state of Mississippi?
The names on the deed are whats important. If your name is on the deed then you are the owner and have to give permission for the property to be sold.
No. Both parties on the DEED have to agree. It doesn't matter who is on or not on the loan.

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