Joint tenants

[mamadukes12]

What is the name of your state? MASSACHUSETTS

I bought into a multi family property that my sister and her husband owned. We are joint tenants on the deed. I am not on the mortgage. We have the house for sale. When the house sells am I entitled to 1/3 of the net proceeds or 1/3 before the mortgage and any other liens are paid? It will make a difference in how much I will get when the house sells.

 

[seniorjudge]

What is the name of your state? MASSACHUSETTS

I bought into a multi family property that my sister and her husband owned. We are joint tenants on the deed. I am not on the mortgage. We have the house for sale. When the house sells am I entitled to 1/3 of the net proceeds or 1/3 before the mortgage and any other liens are paid? It will make a difference in how much I will get when the house sells.

From your description, it sounds like you get 1/3 of the net proceeds.


Q: When the house sells am I entitled to...1/3 before the mortgage and any other liens are paid?

A: No one ever gets this!

 

[mamadukes12]

That's what I thought...

Thank you for the information.

 

[HomeGuru]

good one**************....