WHAT RIGHTS DO YOU HAVE AS A CO-BORROWER

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WHAT RIGHTS DO YOU HAVE AS A CO-BORROWER

OWN 50% OF NON-RENTAL ,NON-LEASED HOMEOTHER CO-BORROWER ACTS AS IF HE IS THE SOLE OWNER

Asked on June 26, 2009 under Real Estate Law, Missouri

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I am a lawyer in CT and practice in this area of the law.  You have the rigtht o 50% of any and all proceeds made from the sale of the house if that was your arrangement.  You also have the right to participate in the decision making process.  If you are not on the deed, but only mortgage, i would say you have no rights to any decisions made regarding the property.  If you are not on the deed, then you do not own the house (assuming you are not married).  I would need to see all the documents in connection with the purchae of the house to give you a more definitive answer.


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