Home Buying in Tampa>Question Details

jcheng, Home Owner in Tampa, FL

If the property is joint name but fully financed by one owner, can this owner sell the property without the consent of the other?

Asked by jcheng, Tampa, FL Tue Aug 14, 2012

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6
It doesn't matter who's name the mortgage is in, what matters are the names on the Deed.
1 vote Thank Flag Link Wed Aug 15, 2012
There is no mortgage involved. We are filing for divorce in another country and he wants half share of the property even though I can proof I paid cash for the Tampa property.
Flag Wed Aug 15, 2012
If the property deed shows two names and the owners hold title as joint tenants, both owners must agree to sell.

If the property deed shows two names and the owners hold title as tennants in common, either owner can sell their interest without the other's consent.
1 vote Thank Flag Link Wed Aug 15, 2012
No. All owners must agree.

I would ask the person/agent proposing to sell the property if the other owner has provided a quit claim deed to the seller offering the home for sale. In that case, the 'other owner' has abandoned their ownership claim to the property.
0 votes Thank Flag Link Fri Aug 17, 2012
Short answer - No. :)
I am not an attorney, but I can explain how this impacts my practive of real estate as a licensed agent. In Florida, all parties who are named on the deed must agree to convey real estate, whether for sale or lease. That's why brokers require agents to verify who is on the deed for any property that they are listing for sale or leasing. And all the parties named on the deed must sign any listing agreement. If you look at this from a practical point of view, it makes perfect sense. You need all parties named on a deed to sign to transfer the real estate to a new owner, otherwise you can't get clear title. How would this be accomplished if only one of the parties put the property up for sale or lease?
0 votes Thank Flag Link Wed Aug 15, 2012
The property was lease without my consent and the rent is received wholly by the other party. Can the other party mortgage his share of the property without my consent as my name is on the deed?
Flag Thu Aug 23, 2012
Jcheng, No.

Both individuals holding title have the same veto or thumbs up power. The one with the financial responsibility carries 100% of the risk. At closing, the proceeds will be split 50-50 with both names on title. If this is not the case then a letter of explanation has to be provided to the closing agent as to why not.

If the property goes into distress the name(s) on the mortgage go into foreclosure. Although the defaulted lender might persistently contact the title holder the financial responsibility remains with the name on the mortgage.

Best regards,
Lynn Brock
Brock Realty Inc
941.313.1234
http://www.brockrealty-inc.com

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0 votes Thank Flag Link Wed Aug 15, 2012
If property is held as joint tenants, your remedy is to sue for partition.
0 votes Thank Flag Link Wed Aug 15, 2012
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