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Mortgage guarantor
3 Answers
Can a mortgage guarantor claim that he owns a property because he made the mortgage payments from his own bank account?
I believe he can't, but I am having difficulty convincing someone.
Can any one help please.
I believe he can't, but I am having difficulty convincing someone.
Can any one help please.
Answers
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The person who owns the property is the one with his name on the Registered Title.
That is the legal owner.
However, a third party can claim a beneficial interest or equitable interest in the property in certain ways - one of which is to prove he has paid a large amount of money off the mortgage IN THE BELIEF he would be entitled to a share of the equity. If he can prove this by wirtten documents, so much the better.
There are many examples but it is a complex and detailed area of law.
That is the legal owner.
However, a third party can claim a beneficial interest or equitable interest in the property in certain ways - one of which is to prove he has paid a large amount of money off the mortgage IN THE BELIEF he would be entitled to a share of the equity. If he can prove this by wirtten documents, so much the better.
There are many examples but it is a complex and detailed area of law.
Thank you Ethel
The guarantor is not mentioned on the Land Registry. Therefore I do not believe he owned the house outright.
It has always been agreed that the guarantor could have a share of the equity should the house be sold.
Although he did say that he had a right to sell the house and make my mother in law homeless.
He did not have this right, did he?
The guarantor is not mentioned on the Land Registry. Therefore I do not believe he owned the house outright.
It has always been agreed that the guarantor could have a share of the equity should the house be sold.
Although he did say that he had a right to sell the house and make my mother in law homeless.
He did not have this right, did he?
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