Posted by JohnBoy on February 27, 2005 at 12:32:58:
On what authority would a BANK have to change TITLE over??? Unless the bank is the owner then the bank has no authority to change title on anything! The only thing a bank can do is agree to change the note and mortgage by letting a party off the hook from being liable on the note. The bank has nothing to do with changing title. Anyone can change title if they choose as long as they are the owner on title and they don’t need anything to do with a bank to do so.
BTW, she said she paid CASH. So there is no bank involved here.
The cheapest way would be a quit claim deed, but her father is the one that has to sign it over to her. But that ain’t likely since HE is the one being greedy here wanting 40% of her profit! That means she’s going to have to go to court to get this resolved and have the court order her father to sign over a quit claim deed and that ain’t going to be cheap!
If everything is the way she says it is, she needs to get an attorney and file suit against all the parties involved with this transaction. Her father, the seller, the realtor, title company and any attorney’s involved. If all the paper work shows her name only as being the only buyer then no one had any authority to ad her father’s name to the deed as a joint owner to the property without the daughter’s consent. Unless the father used a forged document of some type or added his name to everything after the daughter signed the documents, then it would appear everyone involved is liable.
Posted by annonymous on February 27, 2005 at 01:35:26:
I bought a Land in Bay Area, CA for which I paid $140,000 and paid $130,000 cash and borrowed the 10,000 from my father, who actually was the one who found the land for me and worked with his Real estate agent to do the paper work for me , Since I was working in LA at that time. They told me to sign the papers and I trusted them , Afterall It was my FATHER I was dealing with and on ALL OF THE PAPERS, Its mentioned my name as the Buyer, and my signature on all the papers except for the GRAND DEED, where my father is also added as the Second Owner and Me as the Primary Owner in Joint Tenancy. And My father has got greedy now, and wants 40% out of the Profit of the Property cause his name is on the Deed… Is there a way , I can file something in the City to state to say , there is a mistake, since I never authorized to have him as the Joint Owner in my property, as the relationship between us have soured now because of this…I have all the proofs, for example the check I paid from my bank from my account to buy the property and all the papers clearly show my Signature on ALL THE PAPERS, HE has not signed anywhere, just his name is on the Deed…I want him out of this legally, Im willing to give him the $10,000 with interest, which he wont…
Posted by JohnBoy on February 27, 2005 at 12:20:57:
Hire an attorney! Based on what you stated it would appear you have a case against your father, the realtor, the seller, title company and any attorney involved with this transaction. If everything was in your name only, then on what authority did anyone have to deed the property to you with putting your father’s name on it as well? If your father was a joint buyer in this because of the $10k he was paying then his name should have been listed with your name on all the paper work. It comes down to, was your father a joint buyer or was his $10k merely a loan? Based on what you said with only your name appearing on everything it would appear he was merely giving you a loan. A loan would entitle him to having you sign a note and mortgage, not adding his name to the deed without your consent. Have an attorney look at this.
Cheapest would be a quitclaim deed. I am told that if you pay on it 6 months (for example) at that point the bank will change title over. That is in the case of cosigners say when one doesn’t have good creditwants a property and must have a so-signer.