my name is on a deed but the property is owner financed through a third party mortgage company, who is the owner?

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my name is on a deed but the property is owner financed through a third party mortgage company, who is the owner?

i am asking this question because i am wanting to get out of this property due to it being a complete MONEY PIT but I am not sure if I will qualify for other loans as a first time buyer or not. I also need to know what I would have to do to get out of this deed.

Asked on May 27, 2009 under Real Estate Law, Texas

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

I'm not a Texas lawyer, and I don't have all the facts of your case.  This is a situation where a mistake can be very expensive, so I'm not going to guess what you should do next, and neither should you.  You need to have a lawyer representing you, and if you don't already have one, one place to find qualified attorneys in your area is our website, http://attorneypages.com

You will need to bring in the deed, and whatever other paperwork you have on the property, just as a starting point.


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