I had a townhouse that was foreclosed on 4 yrs ago. My name is still on the mortgage. I signed a paper at the bank allowing the person who bought it to pay on the mortgage and anything in regard to the home. If he were to sell it now am I responsible for any taxes on it? or owed any money from the rent he has received?
The information provided is for general information and does not form an attorney-client relationship. See our .Bill HenryFounding Partner | 19 years of experience
Bill HenryFounding Partner 19 years of experience
Are you responsible for taxes based on the gain? Not likely based on your assertion that you have not ownership but only have an obligation to pay the mortgage if the owner does not. Can you demand part of rent received? Not likely based on the above. But, there may be more facts here that need to be discussed. As such, I recommend that you schedule a free case assessment 24/7 by calling 303-688-0944 or online at https://calendly.com/case-assessment/case-assessment. At your appointment, we'll meet by phone or video (Zoom). We'll discuss your concerns, desired results, rights, remedies, the law, the process, timeline, how we can help, costs, etc.
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