QUESTION

MI title of ownership

Asked on May 05th, 2015 on Contracts - Michigan
More details to this question:
If a title says Mr. & Mrs opposed to Mr or Mrs, and states full rights to survivor, can one of the parties refinance without the others signature?
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1 ANSWER

Appellate Practice Attorney serving New York, NY
First, I don't see how title can be held by "Mr. or Mrs."; title has to be certain.  And no, if an asset is owned by two parties, both parties would have to agree to refinance it (which involves granting a security interest in the asset), unless one party has somehow authorized the other to act for them. 
Answered on May 05th, 2015 at 10:26 AM

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