If 2 names are on a property deed, is is true that1 ownercan’t do anything without others consent?
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If 2 names are on a property deed, is is true that1 ownercan’t do anything without others consent?
House purchased 5 years ago; 2 1/2 years ago the man walked away from house. Woman stayed and paid mortgage and maintained house. House put on market 6 months ago. Did not sell. Woman cannot afford mortgage anymore. She moved in with family. Man also cannot afford house. Want to start deed in lieu of foreclosure. Man wants to take house back over. Man needs to buy woman out and for her to sign off or go to foreclosure.
Asked on October 3, 2011 under Real Estate Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If two people are of record ownership of a piece of real property a potential buyer needs the signed documentation in a grant deed or quit claim deed by each of them to effectively transfer title over to the property.
The only exceptions are when there is a valid power of attorney or conservatorship (attorney in fact or conservator needs to sign the required deed) or if one of the owners has passed away and there is a trust administration, probate or intestacy proceeding pending. In these situations, the representative for the estate of the deceased person must sign the deed transferring legal title over to the buyer where the document is typically signed before a notary public.
In your situation, the two owners need to find a way to somehow transfer title to one or the other or both to you to transfer title of the parcel that you have written about.
Good luck.
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