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Q: Property Ownership in California ( No Answer,   0 Comments )
Question  
Subject: Property Ownership in California
Category: Business and Money
Asked by: accordianchick-ga
List Price: $10.00
Posted: 29 Oct 2004 14:34 PDT
Expires: 20 Mar 2006 15:42 PST
Question ID: 421826
Two unmarried women (not domestic partners) own 2 properties together
but one mortgage is in one person's name and one mortgage is in the
other.  Both names are on the title of both houses.  Are both women
financially responsible for both mortgages?

Clarification of Question by accordianchick-ga on 29 Oct 2004 15:03 PDT
The property was originally purchased by both women, with both names
on the mortgage.  They have since refinanced both houses in their
individual names.  If one woman defaults on her loan will the other be
financially responsible, even though the new loan (the re-fi) is only
in one person's name?
Answer  
There is no answer at this time.

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