QUESTION
What right do we have to the house we live in if its under our children's names but we pay all the expenses?
Asked on Sep 12th, 2013 on Estate Planning - Idaho
More details to this question:
We live in our children's home. They no longer live here. We've paid all expenses for over 15 years. Without them being present, what are our rights if any and should we tell the mortgage company this? We are afraid because our names are not on the deed and the mortgage company might throw us out.
10 ANSWERS
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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Do you have any kind of lease agreement? If not you still have a landlord tenant arrangement. You have the right to go to court if they try to evict you. The mortgage company shouldn't care as long as they get the payments.
Answered on Oct 31st, 2013 at 4:09 AM
Mortgage company has a lien on the house if your children have given them a mortgage. Therefore you have no rights of occupancy. Paying the expenses and no rent, means you have had the benefit of a gift from your children.
Answered on Sep 17th, 2013 at 2:46 AM
Civil Litigation Attorney serving Ventura, CA
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The Law Office of Robert I. Long
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In California there are restrictions on the lender dictating to whom the house may be rented, so the same would apply to who the owners allow to live in it. I would not worry about the lender, but your children, as owners, have the absolute right to decide whether you get to continue residing there. Your payment of all expenses including property taxes and insurance will probably not present a defense should the children seek to have you evicted, those payments being presumed to be in lieu of rent. No matter how long you reside there, you will not acquire rights as an owner.
Answered on Sep 16th, 2013 at 3:12 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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The mortgage company does not care where their payment comes from, as long as the payment is paid current; if for some reason you cannot pay the payment, be sure to notify your children right away so they can pay the payment due the mortgage company. Should the mortgage become delinquent, then the company will be notifying your children of the default and will request a cure of the arrearages or commence default foreclosure proceedings.
Answered on Sep 13th, 2013 at 2:33 PM
Thomas Edward Gates
You would be viewed as renters. The bank cannot call a loan when someone dies. Hence, as long as mortgage payments are being made you can stay there.
Answered on Sep 13th, 2013 at 2:32 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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You have no rights in the property, at this point. The mortgage company cannot throw you out, as long as the mortgage is kept current. As long as your children are alive, THEY can throw you out, and you would not have any right to prevent it. Upon your children's deaths, if you are still alive, who would become owner of the house depends on whether or not there was a Will or Trust that applies to the property. If not, then state law would determine ownership.
Answered on Sep 13th, 2013 at 1:51 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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If you're paying the mortgage, and your children own the house, then you are essentially making them a gift. The mortgage company doesn't care. If the mortgage isn't paid, they will foreclose. Santa Claus could be paying the mortgage, for all the lender cares. The fact that your children don't live in the home is probably a default in the mortgage (I assume they got the mortgage for their personal residence, and things changed suddenly). You essentially have the rights of tenants in the house (which isn't much). But it is unlikely the lender will kick, as long as they get their check each month.
Answered on Sep 13th, 2013 at 12:45 PM
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The mortgage company does not care who lives there or pays the mortgage and will not kick you out. You don't have any legal rights to the house however unless your children give or sell the property to you. Only your children can evict you, not the mortgage company. At James Law Group we make every effort to respond to you quickly and efficiently. This means we may be responding to you from a mobile device. As you know, responding on these devices can result in typographical errors that my otherwise not occur. In order to provide this extra service, please be aware of this and excuse any errors that may be caused by responding in this forum. The content of this message is protected by attorney-client privilege.
Answered on Sep 13th, 2013 at 11:41 AM
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You really have no rights unless you have a lease. Your children could evict you. Unless this is not being paid why wood the lender try to remove you?
Answered on Sep 13th, 2013 at 10:37 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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You have no rights to the residence. You don't have a lease, you don't have lease with purchase option, you don't have a land contract. On the other hand, the mortgage company will not throw you out as long as you are making the payments.
Answered on Sep 13th, 2013 at 10:36 AM