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Author Topic: recovering h/l  (Read 1451 times)

20ho15pe

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recovering h/l
« on: September 22, 2014, 10:40:23 am »
We badly need a legal document to get hold of property we gave to our daughter and son in law. The property had been mortgaged with a bank for a few months now under their names but the bulk of principal amount were paid in cash by me. My daughter had been paying the loan until such time she quit her job. The husband can only pay half at the moment because he earns less. They are having troubles lately and husband has become physically and verbally abusive. I am thinking of  3 options right now: 1) to pay off bank (but our available cash is only half of the total loan) so we can have him sign the absolute deed of sale or deed of donation bec this i know involves less taxes, 2) have him sign a blank (buyer) absolute deed of sale that will only be in effect if we sell the property or until bank has been paid, 3) a legal document wherein he will waive his rights over the property and execute at the same time a power of  atty. Or any other option? Can anybody refer a good, inexpensive lawyer? I  am overburdened with house repairs and maintenance as well from the very start because they have no extra means. My daughter had been adjusting but the husband seemingly hD been acting contented and is not giving extra effort to earn. I feel that we are being taken advantage esp my daughter and he doesnt deserve all the comfort and being a co owner of the property.  Please help nefore it's too late.

aquacharly

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Re: recovering h/l
« Reply #1 on: November 09, 2014, 11:08:33 pm »
It is already too late, unfortunately. 
It's been too late from the time you had the property titled in their name.
The issue is no longer who paid the bulk for it: you, your daughter, your son-in-law?
The issue is:  will he sign away his right to the property? I doubt he will. 
He is already physically and verbally abusive, so I doubt he will cooperate with you.

Since you are forced to put up more than half of mortgage payments, what may be more realistic for him to readily sign is
     A Loan Agreement with you... So you can have the TCT annotated.  Ilagay mo na all you have paid and will pay, & require therein that  the couple cannot dispose of the property without offering it to you first;  and that it cannot be mortgaged, sold or used as collateral without your express written consent.

Or, you can assume the mortgage.  If you offer to pay him back the amounts he paid --  you preserve your and your daughter's equities in that property to-date.  He may grab at the chance of getting cash, knowing he will still reside in that house.

I doubt very much he will just waive his right.  Such a request may just fuel his anger/resentment     




 

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